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JPY Daily News
JPY Down as Global Economic Prospects Improve
Thursday, 11 Nov 2010
Japan's currency fell to its weakest level in more than a month against the greenback yesterday as positive economic data reduced the appeal of the safe haven currency. The dollar hit an intraday high against the yen, reaching 82.67, the strongest since Oct. 7. The yen has since gained some strength, trading around the 82.15 level during today's Asian trading. The yen also remained mainly unchanged against the euro, currently trading at 113.40 per euro from 113.41 in New York yesterday.
No major news are expected today from the region as well as most other major markets; however, traders should follow the G20 meeting taking place today and tomorrow for clues about the future of currency relations.
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