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CURRENCIES

US dollar surges to 7-year high against yen

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The dollar surged past 113 yen for the first time since December 2007 and was last up 1.25 per cent at 113.67 yen.

London

THE dollar powered to a seven-year peak against the yen and a two-year high against the euro on Monday, extending gains on the Bank of Japan's latest stimulus action and punishing oil and gold priced in the US currency.

The BOJ's moves to lift growth and inflation bolstered