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USD/JPY climbed 14 pips overnight and....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY climbed 14 pips overnight and last deals at Y110.11, as the
yen was pressured by a general risk-on feel. The Nikkei 225 started on the front
foot and finished 2.15% higher on the day, with Japanese equities buoyed by the
fact that Topix goes ex-dividend tomorrow.
- The BoJ released the summary of opinions from its latest MonPol meeting, which
revealed that the members discussed the MonPol outlook, although they didn't see
the need for imminent action. For our MNI POLICY piece see MNI Main Wire at
00:31 GMT 03/26, or contact sales@marketnews.com for access.
- After yesterday's high of Y110.24 has continued to cap gains today, bulls look
for a clean break above that level before attempting a move at Y110.46, which
represents the 50-DMA. Conversely, bears look for a return below the Y110.00
figure, which would open up the lower 1.0% 10-DMA envelope at Y110.76, just
above yesterday's 6-week low.
- Japanese industrial output, labour mkt data and Tokyo CPI come out on Friday.

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