Under expectations of an early rate cut in Japan, USD/JPY rebounded for the first time in three days on a risk-on mood.
【8/5Market overview
In Tokyo time, the USD/JPY pair was pressured to146.62yen early, but thereafter on Gotō day (5・10th) on the spot rate, demand from domestic real-money buyers was observed,147.26yen rose to. In European time, with expectations of earlier US rate cuts strengthening risk-on sentiment, USD/JPY rose to as high as147.83yen. In New York time,7month USNon-Manufacturing Index came in at50.1versus the anticipated51.5, causing USD/JPY to retreat to147.30yen. Thereafter, it moved little around147.60yen.
【8/6Market outlook
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