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Yen Claws Back Ground Before BOJ as US Rates Drag Dollar Down
The Japanese yen was on course Thursday for its biggest one-day gain in a month as it led the charge higher among major developed currencies in the lead up to central bank chief Haruhiko Kuroda’s final policy announcement. The move came amid a broad slump in the US dollar, which was dragged down as short-end Treasury yields stalled out and retreated ahead of an all important US monthly jobs report. The approaching event risk of the Bank of Japan decision may also have encouraged some caution and pullback in bets against the Japanese currency. The yen was more than 1% stronger on the day at one stage, touching ... (full story)
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