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JPY Offered as Stimulus Plans in View

FOREX

JPY's comfortable the poorest performer across G10 early Thursday, with markets selling haven currencies in response to reports that President-Elect Biden could table a fresh stimulus package amounting to as much as $2trl. Attention now shifts to a speech due Thursday evening for more details on his "shoot for the moon" approach to policy-making.

The greenback initially benefited from the stimulus news, but has been sold since, although yesterday's lows are still a way off from here.

SEK is retracing the Wednesday losses to outperform most others, while AUD and NZD are also seeing decent strength.

Weekly jobless claims data and import/export price indices are the data highlight. Speakers include Fed's Rosengren, Bostic, Powell and Kaplan all due to cross later today.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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