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Focus remains on the Yen

USD
  • Focus remain on the Yen in FX: A mixed start for the Dollar, NZD is down 0.17%, while JPY shows up 0.26% in early trade, which doesn't show the bigger picture at all, after the USDJPY spiked as high as 151.72 Yesterday, and printed a 151.68 high overnight.
  • Some suggestion that we could have Option stops at the 152.00, which might help capped USDJPY at 152.00 especially ahead of the Fed, although the latter is mostly seen as a lower event risk.
  • Looking at CFTC data, today sees very little at 152.00 for today's Option expiry at 15.00GMT, but there's 2.39bn at 152 for tomorrow.
  • Bloomberg also note that, 153.00 could be the mark for intervention, for USDJPY trades at mid range, 151.39.

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