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The Yen sees a sudden spike

JPY
  • Given the limit of the moves, seems that the spike is more likely order driven in the Yen, also the price action was just past the top of the hour, so a fix trade can't be ruled out.
  • Looking at CME, looks like 5.5k Yen (see chart) was bought with similar flows against the EUR, AUD, GBP.

Chart source: MNI/Bloomberg.

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