In keeping with the norm, higher UST yields and by inference wider divergence to JGBs, have undermined the Yen more than most, while Usd/Jpy is also eyeing the 200 DMA after what proved to be a false break above last Friday. To recap, the pair spiked to 105.77, but closed just shy of the aforementioned technical level, which incidentally remains at 105.57 today, and is currently back above within a 105.2-67 range following a mixed Japanese Economy Watchers survey and reports that the state of emergency may be lifted in some areas.
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