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Yen Through Thursday Highs

JPY

Focus remains on USD/JPY within the G10 space. The pair was mildly firmer in early trade (high of 129.43), but is now back sub 129.00. We are now below overnight lows, last tracking near 128.90, +0.30% for the session in yen terms. This is slightly up from lows of 128.66. Weaker JGB futures and the 10yr cash yield above the BoJ's permitted -/+0.50% range are driving yen gains.

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