USD/JPY 108.50-110.50 range for the week?

Forecast for the yen – this via Bloomberg – from Mizuho Bank in Tokyo

  • probably stay in 108.50-110.50 this week
  • exporters blocking topside above 109.50
  • importers to buy on dips amid speculation that they are behind in fulfilling their demand

Dollar probably maintain its firm tone

  • U.S. interest rates among the highest in developed countries
  • has prompted fund flows into America from EMs
  • move seen as overdone and investors have adjusted their positions by returning some funds back to emerging economies last week

EUR/USD expected to be capped above 1.2, while it is unlikely to fall below 1.15

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