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Kuroda’s speech helps USDJPY from dipping down


USD index in choppy swinging move with earlier’s BOJ meeting with a keeping rate at -0.1% as the policy being unchanged like it was expected. Kuroda’s reinforcing YCC and not the quantity of bond purchase will overall raise up economy forecast a little. USDJPY dips down and comes back to 111.03 after Kuroda’s speech but the cross selling of YEN pushes down USDJPY back earlier this morning in London. Trump imposing a 30% tariff for solar products raises up some concerns on protectionism and going to hurt the global trade environment. US and Canada going to start their talk regarding NAFTA and if US withdraws it will directly hurt the Canada’s economy. US stocks and Asian stock markets running well with higher UST yield as well and will be having a little impact for USD. EUR locking with in range consolidation ahead of ECB’s meeting this coming Thursday. Earlier GBP went up to 1.4004 tops after the news report about Brexit trade negotiations with somewhat similar style to Norway as with the overbought technical will still looking for some profit taking on top. Today, US Richmond Fed Manufacturing Index and stock/bond market move will have some intraday impact.


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