He USD/JPY It fell at the start of the Asian session to 103.28, its low of the day, and although it subsequently tried to regain ground, its rise was limited by the intraday high of 103.48. During the European session, the pair is stuck in a 20 pip range, trading mostly around 103.40, where it gains 0.06% daily.
The pair has lost nearly 50 pips from the six-day high reached yesterday morning at 103.89, when markets took refuge in the dollar amid fears of the new strain of coronavirus discovered in Europe.
The approval last night of the US stimulus plan worth 900,000 million dollars, along with a weaker tone around US bond yields, has kept any rally in the dollar at bay.
Traders will be watching today for US data for third quarter GDP and November existing home sales. Late on Tuesday, the Bank of Japan will publish the Minutes of its last monetary policy meeting.
Technical Levels
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