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The Japanese Yen (JPY) trades flat above 159.00 on Tuesday after several days of US Dollar (USD) strength following the intervention that briefly boosted the Yen. The pair has retraced most of its sharp intervention-driven decline, facing pressure from elevated Oil prices and a firm US Dollar (USD).
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Saxo Bank says bullion has to hold $4,360 to keep the rally alive, with headwinds building from oil, yields and the dollar into Wednesday’s inflation print.