Fast reduction in US deficit a credit positive - Moody's

According to rating agency Moody's, the fast pace at which the US deficit has been shrinking is credit positive, adding that with GDP growth accelerating, deficit as % of GDP is likely to drop even more rapidly.
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USD/JPY retains firm tone at Tokyo open

The USD/JPY has retained its steady bid tone into the Tokyo open, currently being bottled up in a tight 10 pip range near highs as Japanese traders come online.
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