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Powell sends dollar sliding lower- USD/JPY slumps below 145.50
The Fed boss has just released some text of his Jackson Hole speech and as suspected he has made it perfectly clear the Fed is about to change tack. So, the dollar just got thumped and as suspected and noted here earlier, the USD/JPY has taken the immediate brunt of the move lower in the dollar. However, before these comments, the USD/JPY had been pressing higher above 146 and came very close to touching the 146.50 level. It has now fallen sharply below 146 and below 145.75 as the GBP/USD rises to a new 2024 high at 1.3181. The USD/JPY has just now hit a low at 145.40
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