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Yen hits 17-month high against greenback

Published Tue, Apr 5, 2016 · 09:50 PM
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London

THE yen soared to its highest in 17 months against the US dollar on Tuesday as sentiment in stock and commodity markets soured, with crude oil prices retreating further and driving investors towards traditional safe havens.

The latest drop in the US dollar saw it add to recent losses that came after US central bank chair Janet Yellen indicated she was in no hurry to tighten monetary policy last week.

Fed funds futures now have barely one rate hike…

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