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USDCAD TECHS

Fresh Lows Below 1.2062

AUDUSD TECHS

Extends This Week's Gains

JGB TECHS

(M1) Consolidating

EURJPY TECHS

Upside Extension Within Its Channel

US TSYS SUMMARY

Narrow Range Ahead April FOMC Minutes

USD/JPY Clings On To Tuesday's Gains

DOLLAR-YEN

USD/JPY rallied yesterday, as the greenback drew support from a jump in U.S. Tsy yields, while broader sentiment was bolstered by U.S. Pres Trump's talk of potential tax cuts & Russia's announcement of the registration of the world's first
coronavirus vaccine. The rate took out resistance from Aug 3 high of Y106.47.

  • Japan PM Abe's approval rating continues to slide, with the latest NHK poll putting it at 34%, a record low. Disapproval rose to 47%.
  • In local press, Yomiuri reported that Japan will join the international Covid-19 vaccine buying framework. Separately, it ran a report noting that Japan wants to export defence equipment to India and elsewhere.
  • The rate sits at Y106.51, little changed on the day. Bulls keep an eye on the upper 1.0% 10-DMA envelope/Jul 24 high at Y106.88/90. Bears need a fall through Aug 5 low of Y105.32 before taking aim at Jul 31 low of Y104.19.
  • Japan reports flash machine tool orders today, PPI comes out on Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com