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Currency Analyst since 2010

BTMUFJ: USD/JPY may consolidate

Analysts at Bank of Tokyo Misubishi UFJ are neutral on USD/JPY. In their view, the pair will be fluctuating in the 99.50/103.50 area.

 On the one hand, higher US Treasury yields make USD more attractive. On the other hand, upcoming US economic indicators may be mixed. Better non-farm payroll numbers may support US Treasury selling on QE-end speculation but not necessarily encourage further equity buying given their prior elevation

According to BTMUFJ, USD/JPY may stay in narrow ranges for now before attempting further upside.

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