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USD/JPY has been happy to hold a tight...>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has been happy to hold a tight range this morning, after a
weekend that failed to provide any major catalysts. The rate last deals at
Y106.89, marginally below neutral levels.
- Japan's Econ Min Nishimura (he's also in charge of the country's coronavirus
response) said that the nation needs to remain on alert amid a spike in new
Covid-19 cases and noted that Q2 GDP figures will probably be "severe", despite
recovery in local spending.
- On Friday, Japan announced a programme aiming to revive its tourism industry.
The scheme, to be launched on Jul 22, will involve gov't subsidies for domestic
travel, even as Japan's Covid-19 case count continues to increase.
- Bears look for a move through Jun 23 low of Y106.07 before targeting May 6 & 7
lows of Y105.99. Meanwhile, a jump above Jul 9 high/50-DMA at Y107.40/42 would
open up Jul 7 high of Y107.79.
- Final industrial output, due Tuesday, headlines Japan's data docket this week.
In addition, the BoJ delivers its latest MonPol decision on Wednesday.

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