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USD/JPY tracks equities lower, hits session lows near 108.00


Monday, 14 January 2019 13:07 WIB

USDUSD/JPY,JPY,


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The Japanese yen is pushing higher against its American counterpart amid losses in the equity markets.

China reported a trade surplus for December 2018 mainly due to a slide in imports (domestic demand) and meager export growth (anemic global demand).

The mounting evidence of a slowdown in the world's second-largest economy and the global economy sent the Australian dollar and the Asian stock markets lower. As of writing, the S&P 500 futures are down 0.76 percent. Asian heavyweights like Nikkei, Kospi, Hang Seng, and the Shanghai Composite Index are all trading in the red.

That risk-off action is likely pushing the Japanese yen higher across the board. Notably, the USD/JPY pair has dropped more than 30 pips in the last four hours to a session low of 108.06 and may find acceptance under 108.00, as global growth fears are likely to reverberate through the financial markets in Europe and America.

Source : Fxstreet


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