USD/JPY shoots up to 121.38 on belated reaction to LDP Yamamoto's talk, but spike was quickly sold off.
- The pair edged lower back under 121 and is currently trading at 120.80, why USD/JPY decided to react to the news over the past half hour a mystery
- LDP Yamamoto at 5 AM JST noted Oct 30 would be good time for BoJ ease. Mr Yamamoto is known to make personal, off-the-cuff remarks
- Yamamoto also said that Japan needs JPY3.5-5.0 tln inspending in extra budget, and that Japan should issue new JGB's for stimulus if needed
- Market focus shall remain on European and US equities for further momentum amidst data light U.S. calendar


FxWirePro- Major Pair levels and bias summary
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FxWirePro: EUR/AUD downward momentum remains in place
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FxWirePro: EUR/AUD downside pressure builds, key support level in focus
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FxWirePro: EUR/ NZD gains some upside momentum but still bearish
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FxWirePro: GBP/NZD edges higher but bias is bearish
FxWirePro: GBP/USD dips as UK political tensions drag pound lower
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