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USD/JPY sank below Y110.00 as it.........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY sank below Y110.00 as it faltered on the back as
participants flew to safety on the back of a spiralling worry re: Chinese
coronavirus & its potential to spread during Chunyun, a travel season around the
LNY holidays which sees hundreds of millions of Chinese move across the country.
A combative tweet from U.S. Pres Trump further sapped risk appetite.
- The yen was generally unfazed by the monetary policy decision from the BoJ.
Members left policy settings unchanged, as expected, with the usual dissenting
votes, delivered a marginally higher growth outlook and nudged inflation outlook
lower. Risk assessment echoed the recent rounds of BoJ rhetoric.
- USD/JPY last deals at Y109.97, 22 pips lower on the day. Bears look for a
retreat below the Jan 15 trough at Y109.79, with the next layer of support
located at Y109.45, the low of Jan 13. Bulls look to reclaim the Y110.00 mark
before targeting the Jan 17 high of Y110.29.
- A post-MonPol press conference with BoJ Gov Kuroda just got underway.

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