The Japanese Yen (JPY) grinded higher on the back of USD buybacks and the major reclaimed Y81 to test Y81.60. The USD/JPY is extremely sensitive to US Central Bank monetary policy and any hint QE2 will be smaller than expected will help the pair rally. Overall the USDJPY traded with a low of 80.60 and a high of 81.68 before closing the day around 81.40 in the New York session.
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