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Yen stabilises as report forecasts big depreciation of renminbi

Currency market turmoil expected to figure in communique issued by the G-20 leaders

Published Fri, Apr 15, 2016 · 09:50 PM

Tokyo

SIGNS that the yen's ascent may have topped out strengthened on Friday, when the currency retreated against the dollar.

Having hit a 14-month high against the dollar of 107.63 early this week, triggering a barrage of warnings about official intervention by the Japanese authorities, the yen retreated to 109.65 by the close of Tokyo trading on Friday.

Even as Bank of Japan (BOJ) governor Haruhiko Kuroda described the currency's recent surge as being "excessive", the country's Finance Minister Taro Aso - also in Washington for a series o…