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Probably, at the beginning of this week, after Friday's release of weak data on wages, the US dollar will decline.
CBA analysts called these weak data "a statistical retreat" after strong growth in January. The data weakness for February creates a downside risk for Tuesday's inflation data in the US.
When the US dollar / Japanese yen pair was trading around 107, Japanese exporters sold it, and the pair quickly dropped to 106.65.
"They are waiting for the growth of the dollar, they want to sell it" after the yen's growth last week, said FPG Securities president Koji Fukaya. Exporters observe a tendency to abandon risk and strengthen the yen amid Tokyo's efforts to exclude Japan from the US imposed duty regime.