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FOREX: USD/JPY Folds to New Lows on Outright NFP Miss

FOREX
  • Greenback sinks sharply on the back of that outright miss for both change in payrolls and the unemployment rate - USD/JPY cracks to new pullback lows and is testing the 147.50 level at typing.
  • Notably, equities are sinking in tandem with US yields on this data release (as was the case with the soft ISM yesterday), seeing no reprieve from the building pricing for Fed cuts across 2024. 
  • USD/CNH joins USD/JPY in printing a new multi-month low, narrowing gap with 7.1653, the early May low. 

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