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### POV - Dollar-yen has traded a........>

DOLLAR-YEN
DOLLAR-YEN: ### POV - Dollar-yen has traded a narrow Y108.64-Y109.83 range this
week as focus turns to Jackson Hole. Any hint of dollar strength has so far been
countered by geopolitical risk, so traders look toward key speeches on Friday
from Fed Chair Yellen (1400GMT) and ECB President Draghi (1900GMT) for
direction.
With no US rate hikes priced in for 2017, dollar shorts remain on the cautious
side ahead of Yellen's speech on financial stability. Traders note Draghi's
speech will have more impact as it relates directly towards monetary policy. No
changes are expected in the quantitative easing measures, however particular
attention will be paid to any remarks on the recent euro strength.
From a technical point of view last Friday's close (Y108.60) and subsequent
recovery formed a Doji candle close on the daily chart. A break on the downside
targets the YTD low (Apr17) of Y108.13.

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