USD/JPY stays heavy to start European morning trade ...Middle East

The pair is testing waters last seen back in July last year. The dip below 140.00 today is threatening to firmly take out the low from December last year on the daily chart. And from a psychological perspective, a firm break below 140.00 itself will keep sellers very much in control to start the new week.But again, with the moves we're seeing, it all has to be vindicated by the Fed later this week.Market players are getting quite pushy and are now pricing in ~59% odds of a 50 bps rate cut. That's quite a leap from the ~21% pricing right after the US CPI report on Tuesday last week. Timiraos' piece here may have something to do with that. But it's also best to be reminded that this is a marke

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