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USD/JPY rises as strong ISM Services allay fears, lift USD

  • Strong ISM Non-manufacturing reinforces 120 base as Treasury yields rise

  • Prices carom back toward 120.51 session high, but Q1 GDP drop a drag

  • Need stocks to endure higher rates to reduce risk-off yen buying

  • ISM bodes well for NFP with Employment index at 56.7 vs 56.6

  • ADP and Yellen speaking on Wed are next fundamental event risks

  • Greek Headlines hitting EUR/JPY now

  • Market Data
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