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Yen/Gold dynamic takes a whack as USD/JPY reclaims 143
Following on from the previous update, noting the new records in Gold, what is clear today is the decoupling in the more usual Yen/Gold dynamic. The USD/JPY has now pushed back above the 143 handle at the same time as Gold sets that new record. This is very much in the opposite direction to what we are used to seeing. Of course that correlation is never set in stone, but the price action seen so far today marks probably the biggest departure seen in recent weeks.
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