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Dollar hits two-month high against the yen

Sun Apr 27, 2008 11:34pm EDT
 
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TOKYO (Reuters) - The dollar climbed to a two-month high against the yen on Monday, boosted by growing expectations that the Federal Reserve may stop cutting interest rates before its policy meeting this week.

The yen was hurt broadly as Tokyo's Nikkei share average .N225 gained, supporting expectations that the worst of the credit crisis may be over and encouraging investors to return to risky carry trades.

The dollar rose as high as 104.83 yen on trading platform EBS, the highest since late February.

(Reporting by Satomi Noguchi)

 

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