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USDJPY Reclaims 149 Mark; Upside Seen Limited

Published on Oct 12, 2023 12:04

USDJPY pair is edging back above 149 mark on Thursday and looking to hold around the levels although persistent weakness in dollar is likely to restrict sharp gains in the pair. The US dollar is staying pressured despite PPI and FOMC data overnight. All eyes now turn to US CPI data for further cues. Meanwhile, from Japan, core machine orders were down a seasonally adjusted 0.5 percent on month in August, coming in at 840.7 billion yen, missing forecasts for a gain of 0.4 percent following the 1.1 percent drop in July. Meanwhile, producer prices were up 2.0 percent on year and shy of expectations for a gain of 2.3 percent and down from the upwardly revised 3.3 percent increase in the previous month. USDJPY is currently quoting at 149.06. Meanwhile, on the NSE, JPYINR October futures contract is trading lower by 0.3% on the day at 56.01.

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