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Yen slumps, Aussie cheers as China joins stimulus bandwagon

From reuters.com

The yen fell to six-month lows on the greenback on Monday, while commodity currencies jumped after China's central bank joined other major counterparts globally in stimulating growth. The dollar jumped to 79.65, surpassing the October peak around 79.55 scaled after Japanese authorities intervened in markets to weaken their currency. It last stood at 79.62. China on Saturday cut the amount of cash banks must hold in reserves, boosting lending capacity in a bid to spur the world's second biggest economy. "While the actual RRR cut was as expected, the PBoC clearly supporting economic growth in the world's second ... (full story)

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