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JPY Daily News
JPY Lower as Economic Outlook Brightens
Friday, 24 Dec 2010
The yen fell against all of its major peers as prospects of gradual recoveries in the world's largest economies brighten. The yen fell to 109.02 per euro from 108.74 in New York yesterday. Against the dollar it fell 0.2% to 83.06 yen, paring this week's advance.
With very low liquidity, economic indicators drive the direction for the currencies. The Japanese currency, with its near zero interest rate, loses attraction as global growth prospects intensify and it seems less likely Japan will raise interest rates any time soon.
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