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DOLLAR-YEN: USD/JPY last sits at Y106.45, 6 pips higher on the day, in spite of
posting a leg lower in early indicative trade as U.S. Pres Trump noted that
"Huawei is a company that we may not do biz. with at all." His comments followed
a RTRS report stating that the U.S. Commerce Dep't is exp. to extend permission
for Huawei to buy supplies from U.S. firms. Optimism seems to prevail as there
has prev. been a distinction between the gov't & private dealing w/Huawei.
- This comes after the rate rose 26 pips on Friday, albeit respecting recent
ranges, amid a general recovery in risk sentiment. A rally seen in the London
morning failed to result in a breach of Y106.50 and USD/JPY eased off highs.
- Above Y106.65, the 76.4% fibo retracement of the YtD range, would please
bulls, clearing the way to last Tuesday's high of Y106.98. Bears look for a fall
below the 100-HMA/cloud Tenkan Sen at Y106.08/07 towards the Y106.00 mark.
- Nikkei published a source story suggesting that Japan will increase scrutiny
of foreign investment in its semiconductor and other high-tech companies.
- Japanese trade data provides today's highlight. Jibun Bank m'fing PMI hits on
Thursday, while national CPI is due on Friday.