Market Moving News: USD/JPY - Jan 27

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Usd/jpy - 89.39 ... Despite early drop to a 6-week low of 89.14 on concerns about China curbing lending together with early comments by Geithner that 'U.S. government still exposed to substantial risk of losses on AIG investment', the greenback rebounded in European morning on short-covering ahead of the outcome of a Fed policy meeting later today. Bids are located at 89.25/30 n 89.05/10 with a mixture of bids n stops seen below 89.00. On the upside, some stops abv 89.50 are in focus, however, offers by Japanese exporters are tipped at 89.70 n 89.90/00.

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