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USDJPY shrugs off the latest US-China trade...>

FOREX
FOREX: USDJPY shrugs off the latest US-China trade tensions at the NY crossover.
Having touched Asia react lows of Y110.77, the rate recovered through Europe to
print extended session highs of Y111.28. The double top resistance area at
Y111.35/40 is expected to provide a stern test, through here opens the long term
descending trend line off June 2015 highs at Y111.48. JPY crosses have witnessed
a minor relief rally lending support to the majors, in particular EUR & GBP.
However, commodity tied FX continues to struggle, AUD & NZD sit bottom of the
G10 pile with losses of 0.82%/0.63% respectively. Main focus today on the BoC
policy decision where its widely expected to hike rates by 25bps to 1.5% amid a
backdrop of solid recent data with CPI & wage growth strong.    

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