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JPY garnered a bid as Trump upped the ante in...>

YEN
YEN: JPY garnered a bid as Trump upped the ante in the trade war and ordered the
US Trade Rep to identify an additional $200bn in Chinese goods for tariffs at a
rate of 10%, this is a larger nominal amount than had been expected. A second
bout of risk off flows hit after China vowed to take strong countermeasures if
the US issues a new sanctions list.
- USD/JPY trades below its 200-DMA at 109.74, and now eyes Y109.11 (55-DMA).
- EUR/JPY continues to flirt with Y127.56 (Low June 4).
- AUD/JPY eyes Y81.04 (Low May 30).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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