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USD/JPY unch. at Y108.02, with...........>

DOLLAR-YEN: USD/JPY unch. at Y108.02, with Japanese CPI coming up later today.
- The rate lost altitude through Thursday's Asia-Pacific session, after the yen
started to gain ground into the Tokyo fix. Souring outlook helped maintain the
bearish tone. Some fluctuations were seen as the BoJ left its monetary policy
settings unchanged, but kept further easing on the table by noting it will
re-examine economic & price developments at the next meeting. USD/JPY extended
losses thereafter before bouncing into Europe and during BoJ Gov Kuroda's
post-MonPol presser (he said he is "more positive on further easing"). What
followed was a period of mostly sideways trade, contained to a ~20 pip range.
- A break below the nearby 100-DMA at Y107.95 would bring the Sep 16 low of
Y107.46 into play. The level also represents the 61.8% retracement of the Aug
decline. Bulls eye Thursday's/Wednesday's highs at Y108.47/48.
- A snr South Korean off'l told BBG that Japan is delaying the shipment of
liquid hydrogen fluoride, a key material used in chipmaking, to South Korea.
Yomiuri reported that both Asian nations will forgo the upcoming UN summit in
New York, with their bilateral working level talks due to go underway today.

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