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Tracks Recent Ranges As Confirmation Hearing Continues

JPY

USD/JPY lifted in the first part of Ueda's confirmation hearing. We got to 134.90, but now sit lower at 134.55/60, little net change for the session. The early tone was similar to recent rhetoric from out going Governor Kuroda, around the need for continued easing. He also mentioned the side effects of monetary policy and the focus on financial system stability as well. The Q&A part of the confirmation hearing is now underway.

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