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JPY Bid Into Final Tokyo Fix Of The Japanese FY

CROSS ASSET

JPY crosses are bid ahead of the final Tokyo FX fix of the current Japanese fiscal year, with core global bonds nudging lower since the cash Tsy re-open, while equities generally tick higher (the Nikkei 225 is down on the day but off worst levels). Nothing in the way of overt headline flow has been observed, with most pointing to flow driven moves surrounding the FX market and the aforementioned Tokyo fix. Official Chinese PMI data headlines today's Asia-Pac economic docket (due to be released at the top of the hour), although broader focus is on U.S. President Biden's infrastructure related speech (slated for 16:20 Eastern time on Wednesday).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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