All Things Forex Trading Room: Is a Significant JPY Correction Already Underway?

In the trading room today: Is a Significant JPY Correction Already Underway? As Chinese data disappoints and the Nikkei registers its biggest drop since the March 2011 Tsunami, we examine the factors behind the strengthening of the JPY and ponder if we may be witnessing the beginning of a significant correction of the yen’s recent losses, we analyze the sharp move lower in the USD/JPY currency pair, we monitor the anticipated bounce higher in the GBP/USD pair, we note the volatility in the EUR/USD currency pair, we highlight the market’s reaction to the FOMC Meeting Minutes, the Chinese PMI, the U.K. GDP, and the Euro-zone  Composite PMI, we discuss new forecasts from Bank of Tokyo-Mitsubishi and UBS, and prepare for the trading session ahead.

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