The gains were helped along by a solid JOLTS report that showed job openings rebounding from the lowest since September. Comments from Atlanta Fed President Bostic also plainly spelled out that the FOMC is in no rush to cut rates. The market is 85% priced for a September rate cut and fully priced for another one in December but it's a firmly 'wait and see' stance through July, which is the only reasonably-visible part of the economy.
Geopolitically, there are worries about how Russia may retaliate to drone strikes and the Iran talks continue to grind on. There are hopes for US-China talks this week and an expectation that Trump and Xi will have a talk to clear the air.
As for the USD/JPY chart, it has held the late- May low so far as it tries to form a larger bottom from 142.00. That's the key zone to watch.
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