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JPY Daily News
Greenery Day Continues Golden Week in Japan
The JPY has been trading with mixed results recently as investors turn their focus elsewhere amid global reactions to the death of Osama bin Laden. After reaching upwards of 82.75 on Monday, the USD/JPY quickly dropped to a daily low of 81.00 by Tuesday evening, and looks to fall farther in today's sessions as investors remain largely bearish on the greenback.
With Japan celebrating Greenery Day, amid Golden Week, liquidity throughout the region will be somewhat depressed. The JPY could gain from this absence as the rest of global traders shift towards Europe, as well as safe havens. As for today, the JPY will be absent from the market again, meaning global investors will continue to focus their attention elsewhere, creating mixed results for the yen. But the recent shift into safe havens following expectations of an international reprisal from al Qaeda in response to bin Laden's death has helped lift the yen and should continue to do so for the remainder of the week.
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