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USD/JPY steps back from above 156 allowing EUR/USD and GBP/USD to lift

An earlier update here noted the USD/JPY was testing the 156 handle. Well it did just nose above that price point, reaching a session high at 156.11. However, since then the dollar has fallen back quite sharply, towards 155.50. The prospect of the dollar not advancing too much was highlighted in that previous update and the reason for that was outlined. Well, as you can see, trepidation over a potential BOJ rate hike on Friday has dented the move higher in the dollar and that in turn has allowed the EUR/USD and GBP/USD to lift from their earlier session lows. 
 

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