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BUY USD/JPY NEAR 102.50, SAYS MORGAN STANLEY -- MARKET TALK
10 October 2016, 08:51
0851 GMT Morgan Stanley is looking for USD/JPY to rise towards 108/110, adding it sees levels near 102.50 as "a buying opportunity." USD/JPY trades up 0.3% at 103.20. With speculation continuing that the Federal Reserve is likely to raise interest rates by December, USD downside potential is likely to be limited against low-yielding currencies, the bank says. On Thursday, USD/JPY rose to around 104.17, its highest in more than two months, according to Factset. (jessica.fleetham@wsj.com)
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(END) Dow Jones Newswires
October 10, 2016 04:51 ET (08:51 GMT)
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