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26 Aug 2016
USD/JPY quickly gives up post-Yellen gains
USD/JPY spiked to fresh 4-day highs only to quickly surrendered gains after Fed Chair Yellen said she believes the case for higher rates has strengthened but refrained from hinting at the probable timing.
USD/JPY rose over half a cent to a peak of 100.89 but quickly surrendered Yellen-inspired gains and fell into the red. The dollar hit a daily low of 100.05 and it was last at 100.18, now 0.33% below its opening price.