Japanese yen

USD/JPY downside risks

Risk sentiment had continued to wane after the disappointing Chinese manufacturing PMI reading while the latest reports on China’s doubts on a long-term deal had been one to add on to this, giving the Japanese yen room to advance.

Fed FOMC watch

The market appears to be in a wait and see mode ahead of the Fed meeting this week, intently awaiting the guidance, over and above the expected rate cut.

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