USD/JPY bounces-off lows, reverts to 120.40

USD/JPY wiped out early losses and turned positive during the mid-European session, on persisting risk-on moods amid rallying European stocks which lifts the sentiment around the greenback.
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Euro zone robust enough to resist China slowdown – EU’s Moscovici

The turmoil in China and other emerging markets will not derail an economic recovery in Europe, European Affairs Commissioner Pierre Moscovici said in an interview.
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