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Session Recap: Quiet Asian session after USD/JPY jumps the gun at the start

FXstreet.com (Barcelona) - Another Asian session with the Yen at center stage, gapping at the open, thus making USD/JPY to hit a fresh almost 4-year high at 98.85, on the back of reported bigger bond purchases than expected from BoJ starting as early as this week. Nikkei index rose a +2.40% for the session, capped below Friday's record 4.5-year highs at the 13.2k mark.

Aussie in the other hand had a weak weekly start prinitng fresh 14-day lows under the key 1.0350 handle, holding though so far above it, proving it as the most important level to watch in the nearest term to the downside. Australian ASX index gained a +0.3%, while other local share markets showed mixed results, with Shanghai index down around -1% on more fears of spreading bird flu.

Commodities had also a quiet start of the week, mostly unchanged as the rest of the currency markets but the Yen, although this last one did not move much either after the opening gap. The nuclear threat from North Korea also escalates as high activity has been reported near nuclear bases suggesting a potential nuke test could be near, Reuters reported.

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