Trading activity for the USD/JPY is less than one-third of its 30-day average on the EBS trading platform as many investors take to the sidelines amid speculation that Japan's MOF may intervene to curb the yen's strength. A senior dealer in Tokyo says "the market is quiet and nobody wants to trade the dollar actively now." Another reason that investors are somewhat quiet is caution ahead of the much-anticipated ECB policy-setting meeting later this week. The pair is at 78.17.
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