02.07 - USD/JPY gains some positive traction on Thursday
- by George Solotarov
Following the previous day's sharp intraday retracement slide from three-week tops, the pair managed to regain some positive traction on Thursday but the uptick lacked any strong follow-through. The positive news related to the development of a vaccine for COVID-19 remained supportive of the positive tone around the equity markets. This, in turn, undermined the safe-have Japanse yen and provided a modest lift to the USD/JPY pair.