The Japanese Yen (JPY) the USD/JPY enjoyed gains back above Y80 during the US session but we have seen heavy selling come through on the pair since Obama was projected to win. EUR/JPY was even more volatile falling sharply from Y103 to Y102.30 and then back to Y103 in the Asian session so far. New Japanese FinMin Jojima entered the jawboning façade stating that intervention is possible to counter one sided FX moves.
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