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Yen Extends Losses

JPY

Broader greenback strength pushed USD/JPY higher Wednesday, allowing the rate to test resistance from Mar 10, 2017 high of Y115.51.

  • Japan's services PPI rose 1.0% Y/Y in October, marginally beating the median estimate of 0.9%.
  • Final machine tool orders will be published later today, with Tokyo CPI coming up Friday.
  • The rate last operates at Y115.41, barely changed on the day. A firm push through Mar 10, 2017/yesterday's highs of Y115.51/52 would shift focus to Jan 11, 2017 high of Y116.87. Conversely, bears need a dip through Nov 19 low of Y113.59 to get some reprieve.

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