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USD/JPY falls further ahead of US CPI data

The dollar is coming under further pressure right now, ahead of the eagerly anticipated US April CPI report. That is especially being seen right now in the USD/JPY, which has just now taken a further lurch lower, dropping below 155.40 a moment ago. That fall as allowed the EUR/USD to trade just above that noted trend line level, just now hitting 1.0836. It looks like someone has just shelled out some dollars ahead of the CPI report. Perhaps someone knows something we do not? We shall shortly see if that is the case and beyond that it could just be dollar longs getting unwound ahead of this crucial data and not necessarily naked short dollar selling. The USD/JPY is currently trading at 155.48 
 

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