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JPY Daily News
Bearish JPY Expected.
The Japanese Yen saw mixed trends versus its rival currency pairs as each cross was greatly affected by its local news, while the JPY did not offer its own trend. The Average Cash Earnings result on yesterday came in -0.6%, which is 1.2% less than the previous publication. The only other indicators expected was the Housing Starts, which as leading indicator of economic health showed a fall of 16.7% on building construction in June.
Today is expected to be a quiet news day from Japan as there are no releases expected. The Yen's trends will be affected by its currency pairs' rallies. As it seems like both the USD and EUR are expecting much volatility today, their crosses with the JPY will see that same volatility caused by them. Traders should keep a close look on the news coming from the US and Euro-Zone as both will be the deciding factors in the Yen's movement.
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