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USD/JPY Lurches Higher into the Month-End Fix

JPY
  • Sizeable lurch higher in USDJPY in recent trade, just ahead of the month-, quarter- and half-year end fix.
  • USD/JPY briefly showing above the Monday high of 110.98.- Move contrasts with most month-end models that'd seen USD sales into the June month-end.
  • Move in USD/JPY coincides with best volumes of the day for JPY futures, with just shy of 5,000 contracts changing hands inside the past five minutes - that's a cash equivalent of around $550mln.
  • USD strength evident across most major pairs now, with GBP/USD, EUR/USD also hitting the day's lows.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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