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JPY: USD/JPY Shows Above Y160, Triggering Further Pressure on TWI

JPY
  • USD/JPY clears the Y160 level, have struggled to break the mark earlier this morning - a quick bout of volatility follows, topping out at 160.06 before fading. The pressure is now piling up on the spot JPY trade-weighted index - which has now traded through the pre-intervention lows from earlier this year. 
  • Decent spike in volumes across currency futures on the move - around 3k contracts trade inside 60 seconds (cash equivalent ~$240mln). 

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