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Something Just Snapped In FX Markets
The dollar index is suddenly legging lower again this morning as USDJPY snaps back below 107, taking out last week's lows. A chaotic overnight session, thanks to Navarro, but Yen is bid now with some market chatter about Softbank's flows... image Pushing yen back to its strongest against the dollar since early May... image This jump in yen sent the dollar lower again... image And gold is gaining on the dollar weakness... image Interestingly the trend in the last two years has been yen devaluation... image ...but the last month or so has seen some attempts at stabilization... image We do note that Fed's ... (full story)
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Market is not random but unpredictable
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