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USD/JPY last trades at Y109.02,..........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last trades at Y109.02, marginally higher on the day.
- NHK & RTRS separately reported that Japanese gov't is finalising a fiscal
stimulus package worth Y13tn, which could be announced as soon as on Thursday.
Together with private and other spending, the package would come to Y25tn.
- This comes after the rate shed 51 pips Monday. Although a risk-on feel evident
in Monday's Asia-Pac session allowed it to edge higher initially, USD/JPY sank
in NY hours as the greenback was offered on the back of disappointing ISM m'fing
survey & construction spending data out of the U.S. The sell-off was helped by
comments from U.S. Commerce Sec Ross, who told Fox that U.S. Pres Trump will
raise tariffs on China if no agreement is reached by the Dec 15 deadline.  
- The aforementioned developments allowed the rate to print a fresh multi-month
high before taking a nosedive on Monday. Bears now look for a break below the
nearby 200-DMA at Y108.91 before targeting the tentative trendline at Y108.77.
Bulls keep an eye on Y109.73, where the pair peaked on Monday.
- The local data docket this week features earnings & spending figures, due
Friday. BoJ's Harada will make an appearance on Thursday.

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