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Yen falls to 4-1/2 year low versus buoyant dollar
May 10, 2013 / 11:07 AM / 4 years ago

Yen falls to 4-1/2 year low versus buoyant dollar

LONDON, May 10 (Reuters) - The yen extended losses to fall to a 4-1/2 year low against the dollar on Friday, hurt by signs that Japanese investors were buying foreign assets and on better U.S. labour market data that could see the Federal Reserve slow further asset purchases.

The dollar rose 1 percent on the day to 101.74 yen, its highest level since October 2008 after stop-loss buy orders above 101.55 and 101.60 yen were triggered. Traders also said it rose past a reported option barrier at 101.50 yen.

The dollar’s broad gains also saw the index, which measures the U.S. currency’s performance against the six major currencies, rise 0.36 percent to 83.098, its highest since April 24.

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