RSS USD/JPY: Bearish bias on the day – OCBC

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 RSS USD/JPY: Bearish bias on the day – OCBC

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USD/JPY continued to trade lower, as expectations on BoJ hike next week continues to build. Markets are pricing in 22bp hike at the upcoming MPC (vs. 11bp hike expectations at the start of the new year). Pair was last at 155.69 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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