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USD/JPY slips towards 150 as US unit labour costs sink

The dollar has just now shunted lower again following the release of some weak US data. Initial weekly jobless claims rose to 217k, from an expected 210k level. However, that is not the really quite startling news. That is because the latest US unit wage cost data has actually fallen in Q3. The markets had expected this to fall to just 0.3%, from a prior reading of 2.2%. Now, that has been revised higher to 3.2%. However, the latest data has shown a fall of 0.8% in Q3 and that is a real surprise to the markets and the news pushed the dollar immediately lower across the board. The EUR/USD lifted to a new session high at 1.0658 on the news and the USD/JPY dropped to a session low at 150.03 as US yields fall further again. The USD/JPY is just now trading at 150.13

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