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USD/JPY takes a hit amid talk of semi-official selling

The USD/JPY has just now taken a sharp shunt lower, dropping from around 151.90 to below 151.40 in what was a rapid and vertical move lower. There is no news as such to pin this move to, but there is talk doing the rounds of semi-official dollar selling. That cannot be confirmed here either way and the move lower could just be all about profit-taking from what was a new 2023 high at 151.91 and ahead of the 2022 high, at 151.95. The drop in the USD/JPY has also taken the likes of the EUR/JPY and GBP/JPY lower with it. The USD/JPY is just now falling back further, dropping below 151.25
 

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