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Japanese Yen drops to over one-month low against USD amid divergent BoJ-Fed expectations
The Japanese Yen (JPY) extends its weakening trend for the third straight day on Wednesday and drops to its lowest level since December 6 against its American counterpart during the Asian session. The Bank of Japan (BoJ) is anticipated to delay the plan to pivot away from its ultra-dovish stance in the wake of a devastating earthquake in central Japan, falling rates of inflation in Tokyo and weak wage data. This, in turn, is seen as a key factor undermining the JPY, which, along with a bullish US Dollar (USD), lifts the USD/JPY pair to 100-day Simple Moving Average (SMA) support breakpoint, now turned resistance, ... (full story)
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