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Corporate Credit Update: Steady

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DOLLAR-YEN: USD/JPY dropped 56 pips Monday and last deals at Y112.85, nearly
unchanged on the day. Yesterday's steady slip occurred on the back of souring
risk appetite, as U.S. equities nosedived, with S&P 500 touching its lowest
levels since Oct 2017, ahead of the Fed's MonPol decision due Wednesday. 
- Bears look for a fall below Monday's intraday low of Y112.68, which would give
them a green light for targeting the lower Bollinger band (2%)/100-DMA at
Y112.53/40. Conversely, bulls need a break above the 21-DMA at Y113.21 before
challenging yesterday's peak at Y113.52. 
- BoJ is set to release its MonPol decision Thursday, while its Rinban ops will
also attract attention. Elsewhere, Japanese trade balance is due Wednesday and
inflation figures are due Friday.

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