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USD/JPY: pointing to a bullish extension
The USD/JPY pair hit a 2-week high of 110.22 this Wednesday, as the positive market mood played against the safe-haven yen. The pair followed the lead of US Treasury yields during the American session, pulling down and bouncing back alongside with them. The benchmark 10-year Treasury note hit 2.98%, its highest for this week, helping the pair settle a few pips above the 110.00 level. US generally positive data had no effect on the pair, led purely on sentiment. During the upcoming Asian session, Japan will release its April preliminary Coincident Index, foreseen at 117.8 from previous 116.3 and the Leading Economic ... (full story)