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Dollar index (USDX) dented by Yen gains

Although the US dollar index (USDX) is mostly made up by the Euro (57%), other lesser pairs can impact it too, but only when there is an outside move in one of those lesser components. Well that is what we are witnessing so far this morning. The slide in the USD/JPY has now extended further. It is approaching 145.50 as I write this update and that is adding pressure on the dollar index, despite the Yen accounting for only 13.6% of the index. So, the index had closed in the US last night, very much on the front foot, at 104.15. Such has been the rise in the Yen so far today, the index is now dropping back below 104 and closer to 103.75. 

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