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USD/JPY breaks below 112.50 as risk off accelerates

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/JPY has seen selling interest ever since the start of trade in Tokyo, with heavy offers initiated circa 113.00 having now sent the exchange rate a few pips below the 112.50 mid-round numbers.

    Risk-off picking up

    The market conditions have quickly turned risk-off, with the Nikkei 225 erasing most of its early gains, now up by just about 0.4%. The SP500 futures are under pressure, down by 0.23%, and a s a result, the 30-year US bonds are seeing strong demand from Asian accounts. Next key event is due in 5 minutes at 1.15 GMT, when the PBOC publishes its USD/CNY mid-point.
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