The Japanese Yen (JPY) broke above Y83 on the strong USD demand but most crosses tracked the stock markets lower with EUR/JPY leading the pack. The outlook for many pairs is closely linked to the stock market performance which could be starting a correction given the size of the move yesterday. Overall the USD/JPY traded with a low of 82.68 and a high of 83.19 before closing the day around 82.80 in the New York session.
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