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Japanese Yen traders remain on the sidelines, looks to Fed decision for fresh impetus

From fxstreet.com

The Japanese Yen (JPY) regains positive traction during the Asian session on Wednesday and trades near the weekly top against its American counterpart touched the previous day. Worries that the deepening conflict in the Middle East could trigger a wider war in the region help offset disappointing Japanese macro data and underpin the safe-haven JPY. In fact, Japan's Retail Sales and Industrial Production figures fell short of market expectations, giving the Bank of Japan (BoJ) more reason to delay the discussions about exiting negative interest rates. The JPY bulls even shrugged off the BoJ's Summary of Opinions ... (full story)

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  • Category: Fundamental Analysis