WLTW

Willis Towers Watson Public Limited Company

231.56
USD
-1.19%
231.56
USD
-1.19%
197.63 271.87
52 weeks
52 weeks

Mkt Cap 28.85B

Shares Out 124.61M

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BUZZ-COMMENT-Dollar's upside vs yen limited by lowered Fed hike ceiling

May 23 (Reuters) - USD/JPY rallies are likely to become limited as last year's fiscal and monetary tail winds diminish and become hindrances in 2022, though there may be periods of temporary respite from the slide since it peaked, along with Fed hike pricing, after the last FOMC meeting. Last week's 127.03 correction low off May's 20-year peak at 131.35 on EBS allowed some extreme overbought pressures to moderate and found support by prior important lows and longer-term technical props just below 127. While above those supports, as the recent plunge in equities and pullback in peak Fed rate hike pricing subside, there's scope to bounce toward supports broken below last week, particularly the kijun, now at 128.80. For the broader pandemic recovery rally to resume, U.S. economic data, starting with Tuesday's May PMIs, might have to beat forecasted softening to keep Treasury yields and stocks from weighing on USD/JPY. A close on Friday below 126.90, by the 23.6% Fibo of the 112.535-131.35 November-May surge and the 10-week moving average, would raise the risk of a slide toward 125. For more click on FXBUZ (Randolph Donney is a Reuters market analyst. The views expressed are his own.) ((Randolph.donney@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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