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Dollar drops to 15-month low vs. yen as investors nervous before U.S. inflation data
The U.S. currency was 0.7 percent lower at 107.050 yen, its weakest since November 2016, with a drop in Japanese shares increasing demand for the yen which is often sought in times of market turmoil. The dollar had enjoyed a brief respite against its Japanese peer overnight as U.S. shares managed to gain for the third successive session on Tuesday following last week’s sharp downturn. But it began to wobble again as Japan’s Nikkei surrendered early gains and fell on Wednesday. Near-term focus was on how far the dollar would slide against the yen after falling below 107.320, which was seen as a key technical ... (full story)