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The JPY outperformed in the first half of.....>

FOREX
FOREX: The JPY outperformed in the first half of the Asia-Pacific session
following the tweak to the BoJ's Rinban operations and softer than expected
Chinese official PMI numbers.
- Investment houses are cautioning against the idea that the latest tweak from
the BoJ signals policy normalisation, stressing that it is a technical adj. to
shape the curve.
- The AUD & NZD unwound the bulk of their losses, while EUR & GBP traded
modestly lower vs. the USD.
- As a reminder most banks have suggested that month end flows should be
supportive for the USD. 
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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