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US Consumer Confidence Pushes USDJPY Back Below 105

Friday, 16 May 2008 21:25:38 GMT

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Written by Kathy Lien, Chief Strategist
For the past 2 trading days, USDJPY has been flirting with the 105 price level. The currency pair finally caved after the much weaker than expected consumer confidence report. Risk appetite will dominate trading for the Yen in the coming week as we expect the Bank of Japan monetary policy and trade data to have little affect on the Japanese Yen. 
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