USD/JPY may rise a bit more but resistance likely in mid 107s, says Yuzo Sakai, FX manager at Tokyo Forex and Ueda Harlow. Says, receding expectations for more ECB rate hikes still weighing on EUR, creating favorable conditions for USD; "Japanese stocks are up for the first time in a while, which is a positive surprise and supports the dollar at least for now" along with JPY crosses. Still, "looking ahead, there are plenty of risk factors for the dollar" like still-high oil prices, shaky stocks, upcoming earnings from U.S. financial institutions. USD/JPY at 107.30 on EBS, EUR/JPY at 167.73
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