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USD: Softer Post CPI But Off Worst Levels, USDJPY Down 0.9%

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  • The softer data weighing on the greenback helps USDJPY extend its intra-day trend to print fresh session lows of 156.25. We noted 156.02 as the nearest support level, with the renewed optimism for equities potentially helping the pair off the lows in most recent trade.
  • Boosted risk sentiment has helped the likes of AUD and NZD to outperform at the margin, rising over 0.5%, while GBP extends its post-UK CPI reversal to briefly print 1.2301, a prior breakdown point for the pair.
  • The euro has relatively underperformed, only managing to print a 1.0354 high before sliding 30 pips, up just 0.2% on the session. This has weighed on EURGBP, which now returns to levels just above 0.84 from the prior 0.8463 highs.
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  • The softer data weighing on the greenback helps USDJPY extend its intra-day trend to print fresh session lows of 156.25. We noted 156.02 as the nearest support level, with the renewed optimism for equities potentially helping the pair off the lows in most recent trade.
  • Boosted risk sentiment has helped the likes of AUD and NZD to outperform at the margin, rising over 0.5%, while GBP extends its post-UK CPI reversal to briefly print 1.2301, a prior breakdown point for the pair.
  • The euro has relatively underperformed, only managing to print a 1.0354 high before sliding 30 pips, up just 0.2% on the session. This has weighed on EURGBP, which now returns to levels just above 0.84 from the prior 0.8463 highs.