Once scalper always scalper
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Yen down on Japan intervention but not likely to last
The yen slid on Thursday after Japan intervened to curb its strength to support the country's export-led economy, a move that should have a fleeting impact as global economic concerns keep demand for the safe-haven currency high. Japan's intervention came one day after the Swiss National Bank unexpectedly cut interest rates to cap a soaring Swiss franc. While the yen tumbled during the Asian and European session, losses were later pared as risk-aversion reigned. Constant yen selling versus the dollar by Japanese authorities during the European session briefly pushed the dollar above the psychologically key 80 yen ... (full story)