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USD/JPY Back Through 132.00

JPY

USD/JPY has climbed higher, getting close to 132.20, against earlier lows of 131.50 close to the Tokyo fix. We have settled somewhat now, back just under 132.10. There don't appear any obvious headline catalysts for the move, although the 10yr UST yield is through yesterday's highs, last around 3.71% (near +3bps for the session). This may be spilling over and lending some USD support. The rest of the G10 space is also seeing a slightly firmer USD bid as well, while USD/CNH is back close to 6.9700.

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