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Market Pushes the Yen Lower, Helped by a Broadly Firmer Greenback
The dollar is firmer against all the G10 currencies today. The market is somewhat less fearful of intervention and the yen is extending yesterday's losses. It is rivaling the Australian dollar for the weakest of the major currencies after the Reserve Bank of Australia left rates on hold and played down speculation of possibility of a rate hike. Both currencies are off around 0.4% in late European morning turnover. Disappointing German factory orders shows the fragility of the nascent recovery. Emerging market currencies are mostly softer, led by the central European currencies. The Chinese yuan is also seeing ... (full story)