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USD/JPY edged higher yesterday, traded...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY edged higher yesterday, traded well within Wednesday's
range. Coronavirus epidemic spilling over across the world remained front and
centre. There was talk of short-covering & month-end demand for USD as providing
support to the pair, despite broader risk aversion provoked by the virus.
- The rate shed a handful of pips as U.S. Pres Trump failed to soothe the nerves
during his special presser re: coronavirus, while wires circulated reports about
the first U.S. Covid-19 case of unknown origin. USD/JPY last sits -17 pips at
Y110.25.
- A break below Tuesday's low of Y109.89 would expose the 50-DMA, intersecting
at Y109.62. Meanwhile, a jump above Y111.04, which represents Tuesday's high,
would please bulls.
- Morning reports from the Nikkei have pointed to the government mulling an
extra budget on the back of the Coronavirus outbreak, while an employee at an
MUFG branch in Aichi prefecture has tested positive for coronavirus.
- Japanese industrial output, unemployment, retail sales & Tokyo CPI hit Friday.

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