USD/JPY and yen crosses have climbed in the past half hour or so

Here's a collection of reasons I've heard

  • Short covering in EUR/JPY
  • Japanese retail accounts buying
  • Overnight gains on equities making yen buying less attractive

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Take yer pick. Its probably a bit of all three (and maybe more)

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(ps. This post is just my way of saying 'I don't know')