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Gold drops back as the Yen retreats
The USD/JPY has continued to react positively to the decent US data today and risen further above the 141 handle. The high seen this afternoon has been set at 141.90. It is a little below that high now, but in terms of the low and the range seen this week, quite elevated in relative terms. The push higher in the dollar has, as one might expect, sent gold down to session lows this afternoon. The metal has traded to a low at $2,561.86 a not long ago. However, it is on the rebound just now, lifting back above $2,565. At the same time, the USD/JPY is still holding near the top of the range seen so far today, currently trading at 141.76
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