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USD/JPY Firms On Monday

JPY

USD/JPY pushed higher Monday as major equity benchmarks ticked higher, while the greenback outperformed its G10 peers.

  • Sankei reported that PM Suga and IOC Pres Bach are set to meet on Wednesday. Separately, approval for Suga's cabinet dropped further to 33% in the latest NHK poll.
  • Final industrial output headlines the local docket today, with BOJ MonPol decision & outlook report coming up Friday.
  • USD/JPY last trades at Y110.33, just shy of neutral levels. Bears look for a dip through Jul 8 low of Y109.53, towards Jun 7 low of Y109.19. Conversely, a rally past Jul 7 high of Y110.82 would bring Jul 2 high of Y111.66 into play.

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