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USD/JPY slides into the final 4pm fix of 2023

In covering some of the price action that has unfolded over the past few minutes, it would be remiss of me, to ignore the slide in the USD/JPY into the final 4pm London FX fix of the year. That has seen the dollar get crunched to below 141 and at the same time taken the EUR/JPY and GBP/JPY sharply lower with it. It is hard to say whether this move was a pure USD/JPY move, or more initiated by cross selling. Perhaps that does not matter either. However, looking at the price of the EUR/USD right now I would be tempted to blame it on the EUR/JPY. The EUR/USD has held that noted 1.1041 level so far, but only just, as I sign off on what is my final update of the year. So, with that in mind I would like to wish you all the very best for the year ahead. The USD/JPY is currently trading at 140.95
 

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