The Japanese Yen (JPY) the USD/JPY was dragged lower by the Yen crosses which had major moves lower on the EUR/JPY and AUD/JPY. The USD/JPY has been supported by the lack of change in the US monetary policy when Bernanke failed to put QE3 firmly on the table last week. The BOJ is watching the Yen movement closely and this is also slowing the gains of the safe haven.
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