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The Yen Weaken Driving the Nikkei Higher
Yields in the US edged slightly higher on Tuesday, as investors begin to focus on the Fed meeting in which the FOMC is expected to further reduce its bond purchasing program by approximately 10 billion dollars of treasury and agency bonds. The increase in yields is beneficial toward the greenback which gained traction against the Yen. On Monday, the dollar had slipped to 103.7 but on Tuesday it bounced back to 104.75. Both the yen and the Chinese Yuan were weaker allowing their equity bourses to climb. The PBOC reportedly injected 255 billion into the banking system via 7 and 21-day reverse repos, the first such ... (full story)