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APAC Currency Corner – It’s US employment data week
Fed chairperson Janet Yellen’s Harvard speech on Friday yielded a significant response from USDJPY traders. The pair moved to the 110.50 near-term resistance level after being mired in very tight ranges most of Friday’s session. On the back of improving risk sentiment, increasing bets on a Fed rate rise after the Yellen-inspired speech on Friday, along with weaker Japanese data keeping domestic stimulus on the front burner, we should expect USDJPY to remain firm through the early part of the week as 111.00 comes into focus. Weekend reports suggest a delay to the tax hike by two-and-a-half-years to October 2019, ... (full story)