Pound Extends Gains Pre-GDP, Yen Strengthens

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The Japanese inflation in May met the market expectations. The headline CPI accelerated at the pace of 3.7% as expected versus 3.4% a month before. The jobless rate declined from 3.6% to 3.5%. Good economic data failed to lift the JPY-crosses upwards. USD/JPY cleared sub-101.40 stops to hit 101.32 (month



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