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USD/JPY last deals at Y108.81, a.........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last deals at Y108.81, a handful of pips lower on the day.
- The pair traded sideways through yesterday's Asia-Pac session and into Europe
before edging lower ahead of the London noon as BBG reported that the execution
of China's pledge to boost purchases of U.S. farms products to the $40-50bn
touted by U.S. Pres Trump may be problematic. However, USD/JPY received a boost
in the London afternoon as several press reports signalled progress in EU-UK
Brexit, raising hopes for an imminent divorce accord.
- Yesterday marked the fifth consecutive up day for USD/JPY, with the rate
touching a fresh multi-month high of Y108.90. A break above there would expose
the 200-DMA, which kicks in at Y109.07, ahead of the Aug 1 peak at Y109.32.
Meanwhile, bears look for a retreat below the previous resistance zone of
Y108.48-47, which would open up the 23.6% retracement of this month's rally at
Y108.33.
- Japanese CPI is due for release on Friday.

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