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Yen falls to 2-1/2 yr low versus dollar, weak against euro
The yen fell to a 2-1/2 year low against the dollar and dropped sharply versus the euro on Tuesday as some Japanese companies stepped up hedging against further weakness amid mounting expectations of more aggressive easing by the Bank of Japan. The dollar rose to 93.30 yen on trading platform EBS, and was up 1 percent on the day. It was the highest since mid-2010. Traders cited option barriers at 93.50 yen with more barriers reported at 94 yen. The euro also jumped more than 1 percent against the yen to 126.55 yen with Middle East investors cited as steady buyers of the single currency. Earlier, Bank of Japan ... (full story)
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