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Nomura: buy USD/JPY ahead of FOMC

Nomura traders bought another $10 million of USD/JPY from 101.75 and with a stop at 100.00. Nomura thinkst the FOMC meeting could be a catalyst for dollar gains vs. the yen.

"Specifically, we think removal of guidance related to the 6.5% unemployment threshold will weaken the Fed’s forward guidance on the margin, which could see some increase in US rates and USD support," Nomura clarifies.

Chart. H4 USD/JPY


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