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USD/JPY Faces Further Downside Risk and a Return to Sub-138
It is a quiet morning for the USD/JPY. There are no economic indicators from Japan for investors to consider. The lack of stats left investors to digest the Q1 GDP numbers from Japan and the overnight jobless claims figures from the US that may have narrowed the monetary policy divergence gap in favor of the Yen. While there are no stats from Japan to provide direction, economic indicators from China moved the dial earlier today. The annual inflation rate picked up from 0.1% to 0.2% in May versus a forecasted 0.4%. Inflation remained soft, with consumer prices falling by 0.2%. In April, consumer prices declined by ... (full story)
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