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Safe haven demand continued to buoy......>

DOLLAR-YEN: Safe haven demand continued to buoy JPY yesterday, as Sino-U.S.
trade war remained in focus. USD/JPY came under early pressure, as U.S.
President Trump said that "China broke the deal," and extended losses into the
European morning. A brief respite was followed by another dip, to a fresh
multi-month low of Y109.47, before the rate saw some more reprieve after Trump
said that he received a "beautiful letter" from Chinese Prex Xi and will
probably speak to him on the phone, while the prospect of a trade agreement
being reached this week is not dead yet. Nonetheless, USD/JPY finished 36 pips
lower on the day, extending on its recent losing streak.
- USD/JPY last seen at Y109.72, 3 pips worse off. Bears look for a dip through
the aforementioned Thursday's low before turning focus to the lower Bollinger
band (3%) at Y109.32. Meanwhile, bulls eye the lower 1.0% 10-DMA envelope at
Y109.84, ahead of the Y110.00 mark.
- Japanese household spending & labour/real cash earnings data comes up at
0030BST/0830JST, before the BoJ releases the Summary Of Opinions from its latest
MonPol meeting.

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