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USD/JPY whip-sawed yesterday as..........>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY whip-sawed yesterday as participants assessed U.S. economic
data and geopolitical tensions. Better than expected NFP data (which came with
caveats outlined earlier) aided sentiment, but comments from White House's
Kudlow vs. China turned focus to boiling Sino-U.S. tensions. USD/JPY finished
just marginally above unchanged levels.
- NHK reported that Japan's ruling party has drafted a resolution urging the
government to call off a state visit by China's President Xi. The LDP party
plans to formally adopt the resolution at some point today.
- Per Jiji, Japan considers revising its coronavirus-related regulations.
- USD/JPY last deals at Y107.53, little changed on the day. A break above Jul 1
high of Y108.16 would open up Jun 9 high of Y108.54. Conversely, a fall through
the 50-DMA at Y107.39 would bring Jun 26 low of Y106.80 into view.
- Final Japanese Jibun Bank Services & Composite PMIs come out today. Next
week's docket features earnings/spending figures (Tuesday), BoP data & Eco
Watchers Survey (Wednesday), core machine orders & flash machine tool orders
(Thursday), as well as PPI (Friday).

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