The first negative headline reading in ten months from the New York Fed's Empire State Manufacturing Survey was the apparent catalyst for a brief Japanese yen rally during today's New York morning trading session. The GBP/JPY currency pair dropped more than 60 pips following the release of the US report, then recovered to finish the European trading day virtually unchanged.

Curt Wehrley
Twitter: @fxcoachcurt
Currency Strategist & Trader Coach
Licenses: Series 3, 34
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