The Fed’s actions are increasingly difficult to predict these days and Ben Bernanke is not making it easier for the US dollar. His remarks about the impact of unemployment and the possibility of the quantitative easing to be reignited, sent the currency downwards. The USD/JPY pair reflected these comments in a brutal way and the Japanese yen enjoyed a brief but strong rally. Now that the pair crossed the 100 level threshold, it has enough room to advance in the same direction especially with Bank of Japan releasing some optimistic forecasts for its economy.

The Japanese yen continues its rally
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