USD/JPY May Rise at Trendline Support Following Bank of Japan Rate Decision

Asia-Pacific markets may open the week on a neutral note as traders grapple with conflicting fundamental drivers. Two major headwinds for the market are an alarming increase in Covid cases through developing and emerging markets, and the other is a proposed raise on the capital gains tax rate in the United States by the Biden administration. Contrarily, earnings – in the US and elsewhere – have been generally positive, helping to underpin sentiment to a degree. India is seeing a massive second wave of Covid, with the country’s caseload making up nearly half of all new daily cases. According to Johns Hopkins … (full story)

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