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USD/JPY rebounds from just below 155 even as BOJ speculation mounts
The recent falls in the USD/JPY saw the dollar briefly fall below 155 much earlier today. The low seen was set at 154.98. However, despite yet more headlines suggesting the BOJ will hike rates next week, the dollar has rebounded off that low since. The high seen has been set at 155.73. At the same time, if you look at a chart of the USD/JPY since Monday you will see it has been pretty much one-way traffic, with almost every dollar rally stepped on over the past 5 trading days. That has come since the BOJ boss gave rise to the increased prospect of a BOJ rate increase on January 25. The drop back in US yields over the same period has not helped the dollar either. So there are doubts this current rebound will hold. The USD/JPY is trading right now at 155.65
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