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JPY was once again the focal point in the.....>

FOREX
FOREX: JPY was once again the focal point in the final session of the week as
USDJPY made its way towards 105.50 shortly after breaking through 106.00. BoJ
Governor Kuroda's second term was confirmed, with doves Amamiya and Wakatabe
being appointed as his deputies. As USDJPY moved to the lowest level seen since
November 2016, the DXY moved to fresh 3 year lows, and technicals paint a
relatively negative picture for the cross with support now not seen until
101.15, the November 2016 low.
- The JPY move pushed the majors on to best levels against the USD, breaking the
narrower ranges seen earlier in the session. The AUD was unperturbed by a
reiteration of the RBA's well known stance from Governor Lowe, while GBP traders
await today's retail sales release & UK PM May's visit to Berlin. 
- USDCAD operated in a particularly narrow range overnight despite the ongoing
USD weakness and further gains in oil prices.
- Liquidity remains depleted with much of Asia closed for LNY, while the US will
be out on Monday which could affect today's trading conditions.
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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