JPY Trading Outlook (12-12-2011)
The Japanese Yen (JPY) the USD/JPY was unmoved remaining within a 25 pip range while all the action was on the Yen crosses. AUD/JPY and EUR/JPY led the market down in late Asian trade as it seemed the EU summit could unravel but then the market reversed sharply with a second look at progress made encouraging European investors. The USD/JPY will be closely watching the FOMC later this week from the US with the Fed expected to be clearer in its monetary policy communications.
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