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Article: Japan : Yen Strengthens as Bank of Japan Says It Will End Emergency Bond Buying.
- Article from:
- TendersInfo
- Article date:
- October 31, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: babalu03
The yen rose, set for its first weekly gain in three, after the Bank of Japan said it will stop buying corporate debt at the end of the year, as central banks around the world phase out emergency stimulus spending.
The yen advanced most against the New Zealand and Canadian dollars as investors sold higher-yielding currencies and traders said Japanese exporters purchased the currency following its recent slide. The dollar headed for a fourth monthly loss against the euro, the longest stretch of declines since 2004.
There s been a degree of yen buying after the BOJ s decision to end some of its support measures, said Lee Hardman, ...
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