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JPY Daily News
JPY Posts Losses Throughout the Day; Recovers in Early Trading
The JPY has made a strong rebound over the past few hours. After steadily losing ground to most of its currency rivals, the Japanese Yen is now beginning to regain its losses from a correction in the market. Ending the day at 100.33 against the USD, the Yen is now trading at 99.67. Also, dropping as low as 134.21 against the EUR, the JPY is currently trading at 132.80 against this 16-nation currency in today's early trading hours, and there doesn't appear to be any signs of stopping this recent movement..
As many equities and various stocks feel the pinch from recent banking and economic data, traditional safe havens have gotten slightly more relevant. However, yesterday's lack of data highlighted the growing weakness in world stock markets and traditional safe havens apparently responded with downward trends as well. As a correction to this recent downward movement, the Yen has started its latest rebound and may continue to do so throughout the trading day
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