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USD/JPY Forecast: Needs a quick break above 50-DMA, else risk sharp losses
USD/JPY rose to a high of 114.96 on Wednesday before deflating to 114.11 by the day end closing. The American dollar was offered across the board in the North American session after the Atlanta Fed revised the first quarter GDP lower to 2.2% from the Feb. 9 projection of 2.7%. The sharp downward revision of the GDP coupled with Yellen’s disappointing remarks on the economy strengthened the offered tone around the USD. Upbeat US data fail to lift the US dollar The consumer-price index rose to a larger-than-forecast 0.6% after a 0.3% gain in December, Labor Department figures showed Wednesday. That was the biggest ... (full story)
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Whatever the mind can Conceive, it can achieve it.