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USD/JPY holds in bearish territory ahead of Jackson Hole
USD/JPY is trading between a 109.41-109.88 range on Tuesday in the countdown to the Jackson Hole that starts this Thursday. The US dollar is in wait-and-see mode, licking its wounds after slipping to a critical low of 92.80 as measured against a basket of currencies, including JPY, in the DXY index. Risk appetite in global markets has started to recover which is a potential headwind for both the yen and US dollar relative to their safe haven status amongst forex. The MSCI world equity index, IACWI, which tracks shares in 50 countries, rose another 0.54% following a 1.1% gain at the start of the week, leaving it on ... (full story)