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US Retail Sales in the spotlight later for the USD/JPY
At 1.30pm GMT the latest US retail sales data covering the month of December will be released and they are expected to be mildly positive. The forecast is for a slight rise on the month, of 0.4%, compared to a gain of 0.3% in November. We also have out at the same time, the latest US important and export price data which can have an impact too. However, the retail sales numbers should be the data that grabs the limelight, assuming it is of note, to evoke a reaction in the markets and the dollar. Earlier this morning the USD/JPY came close to 148, but so far that has capped the top of the run for the time being. This sales data could decide it that remains the case for the afternoon, or not so. The high seen on the USD/JPY remains at 147.97 for now and since peaking there earlier it has dropped back to a low at 147.57. It is currently edging higher again, trading right now at 147.72
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