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USD/JPY not bouncing much yet today and downside risks remain
Earlier today the USD/JPY fell back to a new low since it based out at 141.70 on August 5. The low seen was set at 143.45. It then bounced back to just above 144.20 a short while ago. The dollar has since fallen back underneath 144 again, but the price action remains just as volatile and fluid as it was all last week. The news and comments on Friday from the Fed boss did the dollar no favours and it has not recovered from that yet either. The risks of another test of that 141.70, August 5 low would appear live this week. The further fall in the USD/JPY did the Nikkei 225 no favours either, as that closed 254 points lower earlier this morning, at 38,110. The USD/JPY is currently trading at 143.78
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