USD/JPY remains rangebound above the 160.50 support as traders await the US CPI report

FUNDAMENTAL OVERVIEW USD: The US dollar has been broadly stronger since last week following renewed US-Iran escalations. The traffic in the Strait of Hormuz has once again come to a halt and oil prices started to rise considerably. This situation triggered a hawkish repricing in interest rate expectations with chances for a rate hike in July rising back to…

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