What to watch for
MUFG Research discusses USD/JPY outlook and adopts a tactical neutral bias, expecting the pair to stay in a narrow range ahead of next week's July FOMC meeting.
"USD/JPY has traded in a narrow range amidst mixed buying and selling. The currency pair will likely stay within a narrow range this week as well ahead of the US FOMC and the BoJ meetings at the end of the month," MUFG notes.,
There have been speculative reports that US-China trade tensions could flare up again. In Europe, because of the next leader of the Conservatives, and a hard Brexit will be more probable. US stock prices could correct from their record highs," MUFG adds.
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