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1:50 AM

USD/JPY Bumps Higher after U.S. Existing Home Sales Data

Investors are biting on the USD/JPY after U. S. Existing Home Sales beat analyst expectations. The USD/JPY’s about face shows the level of uncertainty surrounding the viability of the Dollar. Investors are suddenly more comfortable buying the Dollar after a series of positive global economic data. However, the USD/JPY still clearly faces significant downward pressure, and it will take more than one session of data to turn things around.

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