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2013.10.2212:07:00UTC+00Research: Jpy Fundamentals

  • The yen was modestly weaker against the greenback and positioned towards the middle of its recent ranges-where dollar-yen traverses over coming hours and days should take a key clue from America's jobs survey for September. 
  • An overall solid jobs report would suggest the economy was better placed to weather any fallout from the shutdown, a view that should support the dollar at the yen's expense.  
  • But an underwhelming pace of U.S. hiring last month would strengthened the view that the Fed might wait till next year to slow stimulus, something that should prove beneficial to the yen and leave the greenback vulnerable to a test of new lows for the year against some rivals.

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