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Wall Street rallies on upbeat economic data

FXstreet.com (San Francisco) - New highs to end the week in the US stocks market as investor's confidence was fueled by a better than expected economic data.

Impressive rally in Wall Street as stocks extended rally late in day after a good opening. This is the fourth straight week of stock gains with the Dow and S&P in record highs.

The Dow Jones advanced 121.18 points or 0.80% to end the day at 15,354.40. The DJIA is 1.56% up on the week. The S&P 500 added 15.65 points or 0.95% to 1,666.12, 1.98% positive on the week. The Nasdaq rallied 33.73 points or 0.97 to close at the highest level since the .com crash at 3,498.97. The Composite won 1.82% on the weekly basis.

Flash: A cocktail supporting USD/JPY gains during the 6 to 12 mth horizon

After rising 600 pips in May from 97.00 in May 1st, the USD/JPY is now trading above the 103.00 level and according to the Rabobank analyst team, the perspective is positive in the long term.
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USD/JPY closes the week above 103.00 at highest since August 2008

The USD/JPY extended its advanced in the late American session with the pair conquering the 103.00 level and beyond.
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