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From : FX Daily Hotline: 11 February 2016
Chart of the day: US$ v Yen tumbles...

 

US stock markets tailed off towards the end of Wednesday's session.  European equities have opened sharply lower today.  One consequence is that the 'safe-haven' unit, the Japanese Yen, is currently receiving another boost.  The US Dollar was trading at Y112 a short time ago, sharply extending the decline from the large top towards potential support in the Y110 region.  Technically, we would point out that the RSI is indicating that the short-term fall is oversold.

 






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