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USD/JPY meandered yesterday, with........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY meandered yesterday, with focus on U.S. corporate earnings
reports. The rate was capped by its 50-DMA. After holding a fairly tight range
through the day, it finished marginally below neutral levels.
- The Nikkei reported that Japan will consider central bank digital currency in
cooperation with other nations. Per the article, the announcement will be
included in Japan's basic economic policy.
- Elsewhere, an Asahi story cited an unidentified official as saying that Tokyo
metropolitan gov't will raise the alert level in the capital to the highest, as
new Covid-19 infections are spreading across the area.
- As flagged in earlier bullets, optimistic news about Moderna's trial of their
Covid-19 vaccine has supported risk appetite, applying pressure to safe havens.
USD/JPY last sits at T107.26, marginally higher. A break above Jul 9 high/50-DMA
at Y107.43/46 would clear the way to Jul 7 high of Y107.79. On the downside,
bears eye Jun 10 low Y106.65 for initial support.
- Eyes are on the BoJ now, as policymakers are set to deliver the latest
monetary policy decision. 

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