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USD/JPY Outlook – Drifting Lower Ahead of a Big US Data and Event Week

The Bank of Japan bought a record amount of Japanese government debt last month as the central bank continues with its ultra-accommodative monetary policy.

US Business Activity Shrinks, Heightening Recession Fears, July Composite PMI at 47 5

U.S. business activity fell into contraction territory this month for the first time since the COVID-19-induced lockdowns, a sign that the economy may be headed for a hard landing.

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