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And the last shall be first. In 2023, the Japanese yen emerged as the main underperformer among the Big 10 currencies. It weakened against the US dollar by more than 8%. However, comparing the bearish positions on USD/JPY with those in mid-autumn, the yen has emerged strong. Moreover, it is one of the main favorites on the Forex market in 2024.Central banks move in flocks. They collectively tighten monetary policy first, as was the case in 2022-2023, and then they
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