The USD/JPY continued its massive correction as end-of-the-year profit taking, carry trade liquidation and more positive economic data from Japan pushed the pair down.
The yen gained more than 100 points on the dollar in Asian trading, as a dovish FOMC statement triggered carry trade liquidation sales from spec and real money accounts.
The news from the Euro-zone was mixed as ZEW Investor sentiment survey reached a two-year high, but data from France and Italy dragged on the currency.
Lower exchange rates helped Japan record yet another better than expected Current Account surplus, but the positive economic news did little to spur yen buying.
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