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Daily Kickstart (Yen, Gold Fall; Inflation, IP Data, Goldman, Yellen All On Deck)

Traders put the brakes on the flight to safety bid on Wednesday as gold and the yen were lower for the first time in eight sessions. USDJPY options were the most active, comprising 27% of total volume - 115.00 calls went off for $250 million according to the DTCC. "With U.S. stocks rising, risk off sentiment isn’t strong enough to spark concerns about yen strength," Akira Moroga, manager of currency products at Tokyo's Aozora Bank told Bloomberg. Support is at 112.50. As for shiny yellow doorstops, Melbourne-based economist Vyanne Lai (which sounds strangely like "Art Vandelay" of Seinfeld fame) notes that although gold "has surged on renewed Brexit concerns and on the lack of clarity on Trump’s policies," the pace of Fed hikes will more important in the long-term. "The longer-term narrative is for gold to embark on a downward trend," Bloomberg quotes Lai as saying on Wednesday. Moving right along, Asian equities were mostly higher with the Nikkei getting a lift from the weaker yen, Shanghai moving higher on likely state intervention (plunge protection team) tied to Xi's Davos visit, and Hong Kong shares jumping to two month highs (capital outflows from the mainland see
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