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JPY Daily News
USD/JPY Crosses Below 93
Tuesday, 13 Apr 2010
The Japanese Yen saw some volatility yesterday versus the USD and is currently trading at 92.63, below a key support level at 93. Investors forecast the pair would reach 100, after BOJ Governor signaled he prefers a weak Yen in order to support the Japanese economy, which is facing deflation. Producer Prices published yesterday declined less than expected, but the figure was still negative. On Wednesday, BOJ Governor Shirakawa will probably relate to interest rates and easing measures in his speech.
The EUR/JPY also saw high volatility yesterday, while investors sold EUR and bought the JPY. The pair was down by almost 150 pips from yesterday's trade high price.
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