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USD/JPY Fundamental Daily Forecast – Japan Retail Sales Rise for Eighth Straight Month
The Dollar/Yen is edging lower early Tuesday following a volatile trading session the previous day. Early selling pressure was fueled by investors buying the Japanese Yen for safe-haven protection as investors dumped risky assets in response to unrest in China. The Forex pair rebounded in a big way from its intraday low, however, after a Fed official sent a hawkish message to traders. At 02:48 GMT, the USD/JPY is trading 138.769, down 0.142 or -0.10%. On Monday, the Invesco CurrencyShares Japanese Yen Trust ETF (FXY) settled at $67.16, up $0.06 or +0.09%. Japanese Yen Holds Steady as China’s COVID-related Worries ... (full story)