The Japanese Yen (JPY) continued to do very little against the Dollar with most of the action on the crosses which are being sold on rallies in the risk averse environment. The levels are close to BOJ intervention levels from after the Earthquake and could find more jawboning from Japanese officials. Overall the USD/JPY traded with a low of 78.93 and a high of 79.19 before closing the day around 79.05 in the New York session.
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