JPY Trading Outlook (31-01-2011)
The Japanese Yen (JPY) was strong across the board as the market reversed the losses on Thursday due to the S& P downgrade to pushing the major back to Y82. Crosses led the market lower with the risk sensitive AUD/JPY heavily affected. Overall the USDJPY traded with a low of 81.99 and a high of 82.93 before closing the day around 82.10 in the New York session. UPDATE January PMI Manufacturing jumps to 51.4 vs. 48.3 previously.
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