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Hello everyone, today XM Forex will bring you "[XM Forex Market Review]: The yen lacks bullish driving force". Hope it will be helpful to you! The original content is as follows:
XM Foreign Exchange APP News--Tuesday (July 8) European session, the time-sharing chart shows that the US dollar/JPY is fluctuating upward, but there is a lack of clear sustained trend signals. The current price (146.309) is above the moving average, and the short-term bullish force is slightly superior, but the increase has not continued to increase, and the upward momentum is limited. Fundamental Overview The dollar has been supported since the release of the U.S. non-farm payroll report last Thursday, as the data was better than expected and triggered hawkish repricing of the market's expectations of interest rates. But for the dollar, unfortunately, that wasn't enough, as wage growth performed weakly, limiting further repricing and more sustained gains. On the yen side, we got some disappointing salary growth figures yesterday, and the U.S.-Japan negotiations seem to be going well. It should be noted that the Bank of Japan still attaches great importance to the US-Japan trade agreement before considering adjusting interest rates. As a result, negative news on trade weakens hopes of another rate hike before the end of the year.
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