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USD/JPY rebounded overnight, tracking USD rebound. Pair was last seen at 149.77 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USD/JPY struggles to capitalize on a modest uptick and is pressured by a combination of factors. BoJ rate hike bets continue to underpin the JPY and weigh on the pair amid renewed USD selling.
The US dollar looks as if it is going to attempt to recover against major currencies in the early part of Monday.
The US dollar continues to soften a bit in the early hours of Thursday, as we continue to see a lot of questions asked about the yields in America, and the overall global trade situation.
USD/JPY is shifting gears, with Japanese bond yields now driving the action more than U.S. Treasuries. Correlation data backs it up, showing a much stronger link to JGBs, especially at the longer end ...