The Japanese Yen (JPY) was the main game in town with everyone watching the USD/JPY and Yen crosses moving sharply lower. EUR/JPY traded in a 350 range with the market liquidating the Yen after the Government jawboned again yesterday ending 3 days of Yen strength. USD/JPY broke above Y90 and is looking to extend gains after Japanese Trade Minister Nishimura suggesting Y100 is no issue with concern only at the Y110-120 levels.
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