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Forex: USD/JPY plunge on draft of G20 statement

For the 15:00 GMT cut, the USD/JPY fell down by 25 pips to just below the 93.00 handle. A movement that mostly affected the Yen. The timing of such Yen strength coincides with the Bloomberg reporting a draft of the G20 statement.

The G20 is commited to avoid FX rate misalignment and that both the US and Japan have to resolve fiscal uncertainties.

"My outlook here remains bearish below 93.86 resistance area, for a slide through 92.80 low, en route to 91.40 support zone", wrote Deltastock.com analyst Stoyan Mihaylov.

Session Recap: EUR/USD suffers after GDP, GBP/USD at 6-month lows

Today's session was driven by pessimism toward the shared currency after the European Union and some of it members reported the economy contracted more than expected in the Q4. The EUR/USD weakened further after ECB Vice President Constancio suggested negative interest rates are a possibility. Elsewhere, the pound fell to a fresh 6-month low sub-1.5500 versus the greenback, while the yen continued to consolidate within its Monday's range.
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