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USDJPY drops 30 pips in the past 40 minutes

JPY
  • Just overt 30 pips loss in the past 40 minutes in USDJPY, as Tnotes unwind the whole of the sell off.
  • Not seen a clear catalyst for the Govie's pullback, with some desks noting short covering going through.
  • US services PMI is also underpinning Treasuries
  • Support in USDJPY moves up to 113.63.

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