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August: USD/JPY Gains Made in July Are Often Erased

There is a strong case of seasonality in USD/JPY during the month of August. In fact, a look at other yen crosses quickly reveals that in a calendar year August tends to be the strongest month for the Japanese yen across the board. In other words, other currencies such as the U.S. dollar, euro and British pound have a strong tendency to fall against the yen in August.