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14 Feb 2013
Forex: USD/JPY plunge on draft of G20 statement
For the 15:00 GMT cut, the USD/JPY fell down by 25 pips to just below the 93.00 handle. A movement that mostly affected the Yen. The timing of such Yen strength coincides with the Bloomberg reporting a draft of the G20 statement.
The G20 is commited to avoid FX rate misalignment and that both the US and Japan have to resolve fiscal uncertainties.
"My outlook here remains bearish below 93.86 resistance area, for a slide through 92.80 low, en route to 91.40 support zone", wrote Deltastock.com analyst Stoyan Mihaylov.
The G20 is commited to avoid FX rate misalignment and that both the US and Japan have to resolve fiscal uncertainties.
"My outlook here remains bearish below 93.86 resistance area, for a slide through 92.80 low, en route to 91.40 support zone", wrote Deltastock.com analyst Stoyan Mihaylov.