The Japanese Yen (JPY) USD/JPY bounced hard above Y92.50 in Asia after the sharp selloff to Y91 but we found ourselves under pressure in New York once again with USD/JPY falling once again but this time only to Y91.20 where solid bids help the major and Yen crosses consolidate. The outlook is mixed but some feel the market could fall back to Y90 with Japanese officials more cautious with comments of late.
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