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USD/JPY bounce lacks traction even as US continuing claims fall

The latest US weekly jobless claims data has just now been released. That showed claims in line in the latest weekly reporting period, with a number of 220k. However, the continuing claims showed a marked improvement. They fell to 1.861 million from 1.925 million. That is quite a good outcome and it has helped the USD/JPY to initially bounce to just above 145.20. However, that has been the extent of it so far and that is perhaps a clear indication; that further upside this afternoon is going to be hard fought, unless US treasury yields can really bounce more than they have and counter the gains seen the Japanese yields so far today. The USD/JPY is right now turning lower once more, currently trading at 144.83

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