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USD/JPY closed 13 pips lower Tuesday,....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY closed 13 pips lower Tuesday, with JPY finishing the day as
the strongest G10 currency after underperforming European and U.S. equity
markets lent support to the currency. 
- After fluctuating either side of neutral levels in yesterday's Asia-Pac
session, the rate dipped into Europe alongside U.S. Tsy yields, finding support
at Y109.21. Subsequent recovery on the back of improving risk appetite drove
USD/JPY back into positive territory, but after peaking shy of its Asia-Pac
highs the rate eased off towards the end of the day.
- At typing, USD/JPY trades flat at Y109.37. A move below Y109.16/15, which
limited losses on May 15/14, would bring the May 13 multi-month low of Y109.02
into play. Meanwhile, a jump above the the May 24/May 14 highs of Y109.75/77
would shift bullish attention to the Y110.00 mark.
- BoJ Gov Kuroda is due to speak later today. Data-wise, Japanese focus falls on
Friday, which will see the release of industrial production (f), unemployment,
retail sales & Tokyo CPI.

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