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USDJPY Drops 50 Pips In Quick Fashion Amid Equity Weakness

JPY
  • Despite USDJPY spending the majority of late US trade consolidating above the 146 handle, the pair has traded around 50 pips lower over the last 15 minutes, coinciding with some late weakness for major equity benchmarks and the Nasdaq extending losses to over 1% on the day.
  • The pair is suddenly within close range of the earlier session lows at 145.62, with no specific headlines prompting the weakness.
  • It is worth pointing out that we have July National CPI data due overnight where the core data is expected to dip to 3.1% from 3.3% in June.

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