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Sunday, July 23, 2006

USD/JPY - Asia Trading

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USD/JPY likely to move in 115.80-116.50 range in Asia with light data calendar at start of week to dull trade, sentiment slightly negative as players think Fed more inclined to pause hiking rates, so will look at U.S. data later this week. Adds some specs may buy JPY if CNY rises following China's hike in bank reserves, any JPY gains related to speculative CNY moves unlikely to become trend.

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