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USD/JPY struggling again this morning
The further downside in the USD/JPY seen yesterday did deliver a lower close for the dollar last night. The dollar hit a fresh 2025 low ahead of the US stock market opening, after the US challenger job losses added to the downside for the US currency. The USD/JPY fell to 147.31. It did recover into the US close, later ending the session at 147.98, but it has fallen back again right now this morning. Earlier today the dollar lifted to 148.16. It is just now falling below 147.50. The risks of another drop below the lows seen yesterday look elevated right now and given the slight drop in US yields this morning and a further closing in the gap between those and that from Japan, the move lower in the dollar is understandable. The USD/JPY is trading right now at 147.47
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