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The Bank of Japan intervened on the currency markets today in an attempt to weaken the well supported Yen. The Yen has weakened by 2.10% on the pound at the time of writing which is obviously great news for the Japanese export trade with companies like Cannon making gains on the stock market in early trading.

This kind of central bank intervention is generally frowned upon by the market as it raises fear and uncertainty and i feel it is likely we will see a lot of USD strength throughout today as investors look for that “safe haven” currency.

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