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Japanese Yen Intraday Recovery Near 15500
USD/JPY Drops Lower to 15721
The Japanese Yen strengthened against the US Dollar on Thursday, extending its intraday recovery gains. The USD/JPY currency pair fell to 15721, down from a high of 159.40 earlier in the week. The Yen's strength came amid a broader decline in the US Dollar, which has been pressured by concerns over the Federal Reserve's monetary policy and the ongoing conflict in Ukraine. The Yen is seen as a safe-haven currency, and it tends to strengthen during periods of market uncertainty.
Traders will be watching the Yen's movements closely in the coming days, as it could provide clues about the direction of the broader currency market. If the Yen continues to strengthen, it could put pressure on the Fed to raise interest rates more aggressively, which could further weigh on the US Dollar.
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