The main currencies have settled in comparatively narrow ranges after yesterday’s outsized rally in dollar bloc and other commodity-correlating currencies against the yen. The dollar has also settled after rising by over 2% versus the yen and, by to a much more moderate extent, against the euro and other European currencies, which collectively found themselves in the underperforming lane due to the relatively tight Covid restrictions across the region. USD-JPY is trading near the 105.00 level after storming higher yesterday from levels in the lower 103.00s.
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