After the big 4.5% rally yesterday, Shanghai is taking a breather today and has opened slightly lower. JPY crosses have taken a slight bearish turn with cable near its’ 1.6470 lows and USD/JPY also on its lows towards 93.80. Strong bids are expected in the cable towards 1.6400 and there are said to be lots of small buyers in USD/JPY between 93.50/80.
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Shanghai index down 0.25% in early trade
Shanghai index down 0.25% in early trade
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