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USD/JPY last sits at Y106.57, almost.....>

DOLLAR-YEN: USD/JPY last sits at Y106.57, almost unchanged on the day.
- The Nikkei reported that Japan and the U.S. are aiming to outline a bilateral
trade deal in Sep, while some progress may be announced this month, when
Japanese Trade Min Motegi meets with U.S. TR Lighthizer at the G7 summit.
- South Korea will announce details on removing Japan from its list of trusted
trade partners, after Tokyo moved to cross Seoul out of theirs last week.
- Friday saw the yen capitalise on safe haven demand, as the announcement of
fresh U.S. tariffs on Chinese goods triggered broader risk aversion. USD/JPY
bounced on a CNBC report that Trump might shelve tariffs if China takes action,
but the move was promptly retraced as CNBC's own anchors played down the story.
- Bears look for a break below Y106.51, where the rate bottomed on Friday,
before attempting a move at Y106.00. Bulls look to retake the Jun 25 low of
Y106.78. This would encourage them to set their sights on the psychological
Y107.00 level and the channel support-turned-resistance at Y107.44.
- Due this week: summary of accounts from the latest BoJ meeting (Wednesday),
BoP data (Thursday), as well as flash GDP & Eco Watchers Survey (Friday).

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