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Forex pairs in this Article » USD/JPY (London) - Research teams at TD Securities note that the USD/JPY price action is related in part to the Washington deadlock which is continuing into the 7th day.

Key Quotes:

JPY better supported on risk aversion as Washington deadlock continues. Risk of short-covering remains high (probably).

Japan PM Abe indicating that labour reforms may be delayed risks undermining perception of reform progress (and weigh on Nikkei).

Seasonal factors have not had a lot of traction in the past few months but history suggests that October remains the best month of the year for the JPY. A soft close for USD/JPY last Friday was a “heads up” that weakness may extend.
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