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Japan jobless rate hits all time high at 5.7%

By   || August 27, 2009 at 23:41 GMT
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Japan: More bad news for the sitting government on the eve of a general election. The latest economic data makes for bad reading with CPI now running at -2.2% YoY with July core CPI posting the biggest fall on record.

The JPY has weakened slightly on this news with EUR/JPY popping back up through the overnight high at 134.40. This pair looked so bearish yesterday but not today. Hearing of some light selling interest around 134.80/00 which should slow down any major moves higher.

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