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Yen is 'deeply undervalued', says Morgan Stanley

The Japanese currency is on course to avoid a record fourth straight annual loss

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The yen has surged 4.7 per cent since the day before China unexpectedly devalued the yuan on Aug 11, the most among some 150 currencies tracked worldwide by Bloomberg.

Tokyo

AN unlikely event is developing as the US Federal Reserve moves closer to its first interest-rate increase in almost a decade: Yen bulls have re-emerged.

Japan's currency is on course to avoid a record fourth straight annual loss as a stuttering global economy revives haven

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