Yen Stabilizes After Sharp Rally, Japan Withholds Confirmation of Intervention

Yen is currently trading as the strongest currency for the day as the markets enter into US session. The earlier dip below 160 psychological support against Dollar spurred a wave of buying, propelling Yen sharply higher. However, subsequent trading has not shown clear follow-through momentum, indicating that the initial surge may have been more of a reactive spike.

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