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USD/JPY Inches Higher, With Key Resistance Above

JPY
  • Minor bump higher for the greenback in pre-NY trade puts USDJPY at the best levels of the session: 138.28. This narrows the gap with firstly the Friday high at 138.73 and the major upside level at the multi-month high of 138.75.
  • With Fed's Kashkari mainly re-iterating this weekend's talking points, focus turns to Bullard in just under an hour speaking at American Gas Association's Financial Forum.
  • Bullard's last look on the policy outlook was 13th May, at which he saw current policy at the "low end" of sufficiently restrictive, adding that the prospects for disinflation are good, but not guaranteed.

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