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JPY up, commodity currencies down in “risk off” market; NFP

Exclusive Capital Ltd.

Market Recap

Further repricing of Fed rate cut possibilities, plus talk of an impasse in US-China trade talks, sent bond yields higher and equity prices lower. That caused a typical “risk off” move in the FX market, with JPY gaining and the commodity currencies falling. Commodity currencies were further hit by a sharp fall in the oil price in response to rising US inventories and data showing that Russia pumped more oil than it was supposed to under the “OPEC+” agreement.

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Source: https://www.exclusivecapital.com/jpy-up-commodity-currencies-down-in-risk-off-market-nfp/
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