It has been quite an exciting day in the markets today as the US dollar first sold off against the majors on the back of a larger than expected trade deficit to then completely reverse the move an hour later.
USD/JPY plummeted more than 100 points in Asian and early European session tonight as Japanese wholesale prices rose 2.7% from a year ago -- their fastest increase in more than 16 years.
Although consumer sentiment rose in the Japanese region, market participants remain steadfast in their attention to statements by policy makers’ looking for consecutive increases in consumer prices.
The Euro is getting a boost from new developments on Russia's Paris Club debt repayment and the release of the European Central Bank's monthly bulletin.
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