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The JPY continued to struggle in spite of.....>

FOREX
FOREX: The JPY continued to struggle in spite of the BOJ cutting the size of its
25+ Year Rinban operations, in a move that caught JGB traders off guard.
Nonetheless, a buoyant session for risk appetite (namely Asia-Pacific equities)
underpinned the major JPY crosses which extended through their respective recent
highs. USD/JPY last trades at Y112.75, with bulls looking to July's best levels
(Y113.17). EUR/JPY last trades at Y132.80, with bulls looking to the pair's
April highs (Y133.49).
- AUD/USD managed to edge away from lows after S&P affirmed Australia's AAA
credit rating, and raised its outlook to stable from negative, with the rate
last dealing unchanged at ~$0.7290.
- Elsewhere it was a fairly limited session with the remaining major USD pairs
sticking to tight ranges.
- Focus on Friday turns to Canadian CPI & retail sales and flash PMI readings
from across the Eurozone.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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