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Tuesday, October 31, 2006

USD/JPY: Rumours Of Hedge Fund Sales Above 118.00 Earlier

The market is attempting to attach a handle to the abrupt turnaround at the 118.04 high and talk is now circulating that a well known hedge fund had Dollars to go above 118.00. There is also talk of stops above 118.20 and there is a feeling among London traders that Tokyo accounts might be running a tad short.

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