Yen weakness has accelerated and speculators have cut long Yen positions in half but remain net long. In other words, the Yen is vulnerable to additional selling.
The greenback continued to gain ground on Wednesday, with the Dow Jones-FXCM U.S. Dollar Index rallying to a fresh monthly high of 9,896, and the reserve currency may track higher over the remainder of the week as the flight to safety gathers pace.
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