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Yen Stays On Back Foot, High-Betas Firm

FOREX

There is a mild risk-on feel to early price action across G10 FX space, despite lingering fears over aggressive Fed tightening. Upticks in all three main e-mini contracts support risk, while commodity-tied FX may be drawing some strength from firmer crude oil prices.

  • The yen remains at the bottom of the G10 pile, with USD/JPY having a look above yesterday's high. Risk barometer AUD/JPY is hitting its best levels since May 6.
  • South Korea and Indonesia are closed in observance of public holidays today.
  • China's May Caixin M'fing PMI, Australia's Q1 GDP & comments from RBNZ's Hawkesby provide the highlights of the Asia-Pac session.
  • PMI data from across the globe will keep hitting the wires after Asia-Pac hours. Elsewhere, the BoC will announce its monetary policy decision, while a number of Fed, ECB, BoE & Riksbank members are set to speak.

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