Rallying dollar powers to 12-1/2 year high versus yen
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London
THE dollar powered to a 121/2 year high against the yen on Thursday, as investors bet that US interest rates will rise later this year while monetary policy remains ultra-loose in Japan.
The biggest mover on major currency markets was the Australian dollar, which shed 1.2 per cent against a rallying greenback after disappointing Australian capital expenditure data prompted speculation about another rate cut next week.
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