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USDJPY Briefly Touches 147 Mark; Hovers Around 10-Month High

Published on Aug 29, 2023 17:14

The USDJPY currency pair briefly touched 147 mark on Tuesday before easing back to 146 levels and awaiting further cues from US. The pair is lingering at its highest level since November 2022. The dollar index that retreated during early Asian hours reclaimed back 104 mark that is seen pushing the USDJPY pair higher. The greenback is cautiously awaiting US jobs report, PCE price index, ISM manufacturing due this week that could influence the interest rate outlook. The pair is currently quoting at 146.96. Meanwhile, the Japanese Unemployment Rate increased to 2.7% in July from 2.5% in June, according to the latest figures from the Statistics Bureau. The figure rose for the first time in four months. On the NSE, JPYINR September futures contract is quoting 56.70, down 0.2% on the day.

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