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USDJPY at the forefront

USD
  • USDJPY is again the talk of the Town, after USDJPY fell a whopping 454 pips late last night, post the less than Hawkish Fed.
  • Given the size of the move, when we get into the 400+/500+ pips, many desks will be speculating that the price action was more likely due to intervention, taking advantage of the lower liquidity, and the less Hawkish Fed, but Japan's Kanda has again declined to comment.
  • USDJPY sits circa the middle of that 157.58 down to 153.04 drop, at 155.33 going into the European session.
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