Investors scaled back their open interest positions by just 160 contracts on Tuesday, while volume went up by nearly 40K contracts after three straight daily builds, according to flash data from CME Group.

USD/JPY posed for a deeper correction

USD/JPY clinched fresh YTD highs above the psychological 110.00 mark on Tuesday. The move was in tandem with declining open interest (albeit marginally) amidst the negative price action in the Japanese safe haven, all hinting at the likeliness that a correction lower could be in the offing in the short-term horizon.

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