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USD/JPY backs off from new high
Just ahead of the US close last night the USD/JPY extended its rise to reach a new almost 40 year high at 160.87. It later closed the session at 160.81 Of course that was a record close over the same period, or should we say era instead? However, it has backed off today, falling to a session low so far at 160.31. The drop back in the dollar today comes as the Hong Kong stock markets leads Asia into a sea of red. That has seen the Nikkei 225 fall and that has dented the USD/JPY. The USD/JPY is currently trading at 160.37
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