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USD/JPY: Likely to trade in a range between 157.60 and 158.60 – UOB Group

USD is likely to trade in a range between 157.60 and 158.60. In the longer run, USD appears to have entered a consolidation phase between 157.10 and 159.10, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY appears to have entered a consolidation phase

24-HOUR VIEW: "USD fluctuated between 157.46 and 158.60 yesterday, closing largely unchanged at 158.15 (+0.03%). We are not able to derive much from the price action. Today, USD could continue to trade in a range between 157.60 and 158.60."

1-3 WEEKS VIEW: "While USD rose and reached a high of 159.45 last week, it pulled back sharply this week. The immediate upward pressure has faded, and USD appears to have entered a consolidation phase. For the time being, we expect USD to trade between 157.10 and 159.10."

US Commerce Secretary Lutnick: Trade deal with EU is durable

United States (US) Commerce Secretary Howard Lutnick said during European trading hours on Wednesday that the trade deal between the European Union and Washington is long-lasting.
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GBP under pressure as UK inflation remains sticky – BBH

Pound Sterling (USD) is on the defensive as UK December CPI shows mixed signals, with core inflation steady and services inflation slightly below expectations, BBH FX analysts report.
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