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USD/JPY was bid in early trade...........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY was bid in early trade Thursday, but faded the move through
the second half of the day as risk developments took centre stage. Simmering
tensions between the U.S. and China escalated into open hostility, with U.S.
off'ls pledging to take action after Beijing sought to tighten its grip on HK. 
- Japanese PM Abe said yesterday that the state of emergency in Tokyo could be
lifted on Monday, if current trends of the coronavirus outbreak continue.
- USD/JPY trades flat at Y107.59 at typing, with bulls looking for a jump above
Apr 16 & 17/May 19 highs of Y108.08/09, followed by Apr 10 peak at Y108.59.
Bears would be pleased by a dip below May 19 trough at Y107.30, which would open
up May 13 low of Y106.74.
- All eyes are on Japan's CPI data and an emergency monetary policy meeting of
the BoJ. Governor Kuroda & Co. are not expected to change core MonPol settings.
- Looking further afield, next week's docket features unemployment, retail
sales, flash industrial output & housing starts, all due on Friday.

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