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The yen is tumbling (USD, DXY, JPY, NZD, NOK)

The Japanese yen is tumbling. The currency is down 0.8% at 101.47 per dollar as of 7:19 a.m. ET. Earlier in the day, data showed that Japan's retail sales fell 2.1% year-over-year in August, below expectations of a 1.8% drop. On a month-over-month basis, retail sales fell by 1.1% in August. This was the first drop in three months. "Admittedly, retail sales have not been a particularly good guide to changes in overall consumer spending," noted Marcel Thieliant in note to clients.
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