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Japanese Yen remains confined in a range near multi-decade low against USD

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The Japanese Yen (JPY) oscillates in a narrow trading band near a multi-decade low during the Asian session on Tuesday and for now, seems to have stalled a two-day-old weakening trend against its American counterpart.

The Japanese Yen remains depressed near a multi-decade low amid the BoJ’s dovish outlook. The divergent Fed-BoJ expectations support prospects for a further JPY depreciation move. Intervention fears hold back the JPY bears from placing fresh bets and cap the USD/JPY pair. The Japanese Yen oscillates in a narrow trading band near a multi-decade low during the Asian session on Tuesday and for now, seems to have stalled a two-day-old weakening trend against its American counterpart.

Chicago Fed President Austan Goolsbee acknowledged on Monday that the US economy remains strong but wondered how long the central bank can be restrictive without damaging the economy. Technical Analysis: USD/JPY awaits a move beyond the 152.

 

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Japanese Yen slides back closer to multi-decade low against USD, bears retain controlThe Japanese Yen (JPY) witnessed an intraday turnaround from over a two-week high touched against its American counterpart on Friday and finally settled near the lower end of its daily trading range.
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