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USD/JPY edges lower despite positive US data
That whole bunch of` US economic data has just been released and it was pretty much as expected, or slightly better. The latest claims number were on the mark and the trade deficit actually shrank. Q4 GDP was revised slightly by higher, by 0.10%. So, on the face of it no bad news in any of that. The US stock futures reacted positively to this and so have the US bond markets. Hence, US yields are a smidgen lower. The dollar is no higher though and in fact, the USD/JPY has dropped back a little on this news, but it was already doing that anyway. Earlier the USD/JPY lifted above 151, touching 151.10. It has just now fallen back below 150.70 as those US yields come off the boil
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