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Japanese Yen strengthens as USD/JPY retreats on BoJ hike bets

USD/JPY edges lower on Friday and trades around 161.60 at the time of writing after once again failing to sustain a move above the 162.00 mark. The pair is facing profit-taking as investors remain cautious over the risk of intervention by Japanese authorities to support the domestic currency.The US Dollar (USD) is also losing some ground after markets slightly scaled back expectations that the Federal Reserve (Fed) will deliver at least two additional interest rate…

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