USD/JPY: The dollar eased as risk sentiment weakened after the U.S. government threatened tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies. Moreover, data showing U.S. manufacturing activity slowed to a near 3-year low in June further undermined the bid tone around the greenback. The pair was trading 0.1 percent down at 108.32, having hit a high of 108.53 on Monday, its highest since Jun. 19.
Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ISM – NY business conditions index and Fed William’s speech. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08 (Jan. 8 Low). On the downside, support is seen at 107.81 (Jun. 5 Low), a break below could take it lower at 107.24 (June 24 Low).
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