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JPY Daily News
Yen Falls Broadly
Friday, 2 Apr 2010
Japan's currency was near a 2 month low versus the EUR as gains in global stocks and expectations the Bank of Japan will keep borrowing costs near zero encouraged investors to sell the Yen to purchase higher-yielding assets. Japan's currency was at 127.29 per EUR from 127.50 after reaching 127.56 yesterday, the lowest since Jan. 26.
A spike in risk appetite also encouraged Japanese investors to sell the Yen as the new fiscal year gets underway. Losses in the JPY were limited as speculation traders took advantage of recent losses to buy the currency ahead of market holidays.
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