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The JPY has led the way in early..............>

FOREX
FOREX: The JPY has led the way in early Asia-Pacific trade, with the remainder
of the majors managing to squeeze out modest gains against the greenback. Trade
has been muted as the US observes the Independence Day holiday.
- USD/JPY last trades around Y110.40, with downside interest coming in at
Y110.25/20 (Hourly support), followed by Y109.97 (Jun 28 low).
- AUD/NZD hovers around the long term trend-line resistance at NZ$1.0940, after
PBOC market assurances, firmer oil and gold prices pushed the cross above the
level on Tuesday. A clean break above would shift bulls' focus to NZ$1.1000 area
and the YtD high at 1.1073.
- Focus in Asia-Pacific hours will fall on China Caixin Services & Composite
PMIs, as well as Aussie trade balance & retail sales data.
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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