The Japanese Yen (JPY) the USD/JPY moved lower with the USD weakness as the Euro and other risk assets rallied but support was found under Y77.20 and the major bounced back to Y77.70. EUR/JPY had a very sharp drop on the day back to Y103 at one point. The EUR/JPY dropping below Y100 may prompt more intervention from Japanese authorities with the European export market very important for many Japanese firms.
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