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USD/JPY extends gains into the 4pm London Fix
Just as the final 4pm London FX fix of week came and went, the Dollar pressed higher. That was most noticeable versus the Yen. The USD/JPY rose to 149.15 around the time of that fix. The actual fix was set at 149.10, but it has not yet backed off. The prospect of a shift in BOJ monetary policy next week looms ever closer now (March 19), but that is not delivering any further downside for the dollar this afternoon. I think it is probably fair to say; that whilst it seems likely the BOJ will increase its -0.10% OCR next week, it is not an entirely done deal. The higher US treasury yields this afternoon has also helped to underpin the further rise in the USD/JPY, which is just now trading at 149.12
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