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With each passing day, more speculation emerges over a BoJ shift next week, notes the research team at TD Securities.

Key Quotes

“We think this is a fade as we view this as part of a revamped communications strategy to warm markets up for a tweak far down the road, in line with rhetoric espoused by Governor Kuroda earlier this year. As such, we look for a tactical upside push in USDJPY towards 113 before reassessing the directional play from there.”