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Then yen advanced against most of its peers as market participants run to buy safe haven currencies after the Chinese trade data disappointed . The Japanese currency climbed 0.5% to 96.20 per euro, adding to the weekly gain of 1%. At the same time the low-yielding currency rose 0.4% to 78.24 per dollar. Eurozone’s common currency traded almost unchanged, at $1.2298, after declining as much as 0.5% earlier in the session. The euro is headed for a weekly loss of 0.7%.
As per the analysts said in their latest dollar to yen forecast for regarding 2021. The break in the 2015 to 2021 downtrend as well as rise above the 55-month moving average at 109.06/109.28 is bullish, the analysts further added that putting the short-term target at the April 2019 as well as February 2020 highs at 112.23/112.40.
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