The BCB kept rates on hold as expected at 15%. The decision was unanimous. The statement noted: "The...
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The overnight range was 153.89 - 154.25, Asia is currently trading around 154.10. The pair has consolidated its recent gains above the 154.00 area. USD/JPY found solid demand around the 153.00 area on Friday again and this return of positive sentiment has brought the focus back to the 154-155 resistance area. A sustained break above here is needed to potentially see the uptrend regain upward momentum, through here the focus would then turn toward the 160 area where I would start to become wary of intervention risks.
Fig 1 : USD/JPY Spot Daily Chart

Source: MNI - Market News/Bloomberg Finance L.P
| 0200GMT | 0900HKT | 1100AEDT | South Korea Exports 10 day YoY NOVEMBER |
| 0200GMT | 0900HKT | 1100AEDT | South Korea Imports 10 day YoY NOVEMBER |
source: Bloomberg Finance LP / MNI