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JPY Daily News
Yen at 8-Month High vs. USD
Wednesday, 4 Aug 2010
The Japanese yen rose to an 8-month high against the greenback as concern the Federal Reserve may take up additional stimulus measures to boost the sluggish US economy.
Japan's currency rose against all of its 16 major counterparts after the release of disappointing US economic figures. Data has shown US factory orders and existing-home sales fell in June while consumer spending stagnated. Japan's currency gained 0.8% to 85.50 per USD. The yen also rose 0.5% to 113.12 per EUR.
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