Main action has encompassed the yen through Friday with speculation on a yuan revaluation pushing the Japanese money into 106.0 degree after breaking through resistance at 106.4. The dollar has retained A marginally weaker bias, dring back to close 1.31 from the Euro. The industry action at this point doesn't imply we have a number of short dollar positions to be insured following week which would boost the chance of selling pressure. After the break under 106.4, the dollar is exposed to some test of 105.0 from the yen.
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