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DOLLAR-YEN: USD/JPY lost ground Thursday, as renewed risk aversion inspired a
global equity rout, with S&P 500 finishing almost 6% lower. Participants
reassessed expectations for the economic impact of the coronavirus pandemic,
while showing concern over coronavirus figures from some U.S. states, which
seemed to point to a second wave of infections.
- Tokyo lifted coronavirus alert yesterday, but will continue to take
precautionary measures. Elsewhere, Gov Koike will declare her willingness to
fight for re-election in the Jul 5 ballot, per Kyodo.
- USD/JPY last trades at Y106.83, now just 3 pips lower & off worst levels. A
fall below yesterday's trough at Y106.58, which would expose May 11 low of
Y106.40. Bulls look for a recovery of May 29 low of Y107.09, followed by the
50-DMA at Y107.61.
- Japan reports final industrial output today. Next week, focus turns to
Tuesday's BoJ MonPol decision, Thursday's trade balance, as well as Friday's CPI
& minutes from the BoJ's Apr MonPol meeting.

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