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USD/JPY near session lows as EUR/JPY falls below 160 ahead of the ECB
Earlier this morning an update noted the pressure on the USD/JPY, as it approached the 2025 lows seen earlier this week, at 148.10. Well, since then the dollar has taken out that prior low and fallen to a low seen so far at 147.68. It made that move earlier and then tried to rebound back above the 148 handle. However, so far the dollar has not managed to hold any rebound and a few moments ago it retested the earlier lows. The EUR/USD is not much higher, but back above 1.08 as this is typed. That means there has been further downside in the EUR/JPY just now too. That is also a major driver for the downside in the USD/JPY ahead of what is an expected 0.25% ECB rate cut in around 45 minutes from now. The USD/JPY is currently trading at 147.69
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