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Market Moving News: USD/JPY - May 16

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16 May 2008 @ 12:35 am EST
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Usd/jpy - 104.62...Dlr's weakness vs euro n chf was unable to push usd/jpy below 104.43 (o/n NY low) as cross selling in yen (esp aud/jpy n eur/jpy) are giving some support to the pair. It seems that this morning's better-than-expected GDP data has been digested n traders will look to the release of U.S. housing data later today. Bids remain at 104.40/50 with stops reported at 104.20 n further out at 104.00. On the upside, offers are reported in the region of 105.00-105.20 n also 105.50 (option-related)...

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