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[QUOTE="FxNet, post: 100134, member: 19407"] [B]Yen Retreats from Monday’s Rally [/B] Aussie and Kiwi higher than greenback[I] [/I] After reaching its two year high against the greenback on Monday the Japanese yen lost some momentum on Tuesday following comments from Japan’s policymakers, while the Aussie and Kiwi gained against their US counterpart. USD/JPY added 0.20 percent on Tuesday trading at 108.16. On Monday USD/JPY had fallen to 107.65, its weakest since October of 2014. Last week alone the US dollar lost 3.2 percent against the yen in the previous week, and for the year 10 percent. Japan’s Chief Cabinet Secretary Yoshihide Suga said that the government was monitoring the Forex market and that moves in the yen are one sided and speculative. There aren’t any expectations for the government to intervene in its currency’s movements before the G20 meetings in Washington. Elsewhere the Australian dollar was boosted by positive news releases; the National Australian Bank showed that its business confidence index went up to 6 in March from 3 in February, and the business survey went up to plus -12 in March from plus -8 in February. AUD/USD added 0.33 percent to a one week high of 0.7620. NZD/USD added 0.22 percent reaching its highest level in a little over a week at 0.6873. The greenback remained under pressure of speculations about interest rate hikes that could take place this year. The US dollar index which measures the greenback against a basket of six other major currencies was steady at 94.01. [/QUOTE]
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