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Will the Market Push the US Dollar Above JPY152 as Japanese Prime Minister Heads to the US?
The jump in US rates after the employment report failed to ignite a sustained rally in the dollar and this shaken the market's near-term confidence. The dollar has been mostly confined to narrow ranges and the low yielding Swiss franc and Japanese yen are softest with the G10 complex today. The dollar is knocking on JPY152. The Scandis and Antipodeans lead the advancers. The euro has made little headway despite a much stronger than expected German industrial output. Mainland China markets re-opened, and the dollar remains at the upper end of the 2% band and above it against the offshore yuan. Most emerging market ... (full story)