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USD/JPY stays corrective, bears keen to test 110.00 as greenback stalls
At the time of writing, USD/JPY is trading at 110.43 and flat on the day, sticking within a narrow range of between 110.31 and 110.54. The US dollar caught a bid on Thursday following data showing Producer Prices posted their largest annual increase in more than a decade in the 12 months through July, suggesting inflation pressures remain strong. The producer price index (PPI) for final demand increased 1.0% last month after rising 1.0% in June. In the 12 months through July, the PPI jumped 7.8%, a record high since the measure was introduced just over a decade ago. The data was welcomed by the bulls following the ... (full story)