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The yen outperformed its G10 peers.......>

DOLLAR-YEN
DOLLAR-YEN: The yen outperformed its G10 peers overnight, as escalating
Sino-U.S. trade war inspired flight to safety, but currently trades off of best
levels.
- USD/JPY declined from the off, bottoming at Y109.60 after the Nikkei 225
opened on the back foot. However, subsequent recovery allowed the rate to pare
some of its earlier losses.
- USD/JPY last seen at Y109.78, 17 pips lower on the day. Bulls look to the
100-HMA/Friday's peak at Y109.99/110.05. Above here would bring the cloud base
at Y110.32 into view. Conversely, bears target the Y109.49/48/47 area, which
hosts the lower 1.0% 10-DMA envelope/Friday's low/Thursday's low.
- Japanese PM Abe will visit China in August or December, according to Mainichi.
- Japanese highlights this week include domestic BoP data tomorrow, money stock
data due Wednesday & PPI due Thursday.

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