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JPY has caught a modest bid after U.S....>

DOLLAR-YEN: JPY has caught a modest bid after U.S. Pres Trump announced that the
U.S. is imposing 5% tariffs on all goods from Mexico, effective on June 10.
Trump's comments inspired fresh risk-off flows.
- This coincided with the release of Japanese Tokyo CPI & unemployment. CPI
figures slightly missed expectations, while headline unemployment rate matched
- USD/JPY last deals at Y109.43, 19 pips worse off. The pair has breached the
Y109.48-46 region, which limited losses on May 9, 10, 23 and yesterday, and
which provided the initial technical support post-Trump's comments. This shifts
bearish focus to Y109.02, which represents the May 13 multi-month low. On the
topside, bulls need to retake Y109.46-48 before challenging the 21-DMA,
yesterday's high and the May 16 high, clustered within the Y109.90-97 zone.

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