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Yen Recovery Continues

JPY

USD/JPY has tracked lower in the first part of Thursday Asia Pac trade, the pair last at 143.15/20 (session lows have been at143.16). This is 0.25% stronger in yen terms versus end Wednesday levels in NY and continues the run of yen strength from late in the session.

  • Broader USD sentiment is softer, with the BBDXY down 0.15%, sub 1225.0 at this stage, giving back some of Wednesday's gain.
  • Cross asset signals are relatively muted, with US yields up 1-2bps, while US equity futures have opened positively (SPX +0.18%).
  • For USD/JPY we are still comfortably above pre BoJ levels from earlier in the week 142.50/60.
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