Yen nurses losses as stocks rally cheers mood
London
THE yen nursed losses against the dollar on Thursday as calm returned to currency markets with gains in global equities, including a 5 per cent jump in Shanghai, underpinning risk sentiment and sapping demand for safe haven currencies.
Comments from an influential Federal Reserve official on Wednesday downplaying prospects of a September interest rate hike helped improve sentiment. In the currency market, investors reacted by unwinding recent moves that had lifted both the yen and the euro.
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