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USD/JPY under pressure so far this morning
The USD/JPY had held up really well into the close on Friday evening, despite losses for the US dollar almost everywhere else. The USD/JPY closed in the US at 149.44. Earlier today it tried to rise towards 150 once more, but the move stalled at 149.67 and since then it has been one-way traffic lower.The low seen so far has just been set at 148.77. It is steadying a little right now, but all the chatter around the markets concerns a number of month-end rebalancing models set for the monthly close on Thursday. Now according to some of those, there is likely to be dollar outflow set for the end of the month. I cannot confirm that will be the case, but just report to you what chatter there is going around on that right now. The USD/JPY is currently trading at 148.85
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