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Yen and sterling post gains

This article was originally published in Dairy Markets

The yen rose against the dollar, euro and other major currencies on Thursday morning on news that China's economic growth slowed to 6.1% in the first quarter, its weakest on record, dampening demand for higher-yielding assets. Earlier in the day the Japanese currency had fallen ahead of the GDP announcement which had been expected to outstrip forecasts. As of 0840 in London the yen was trading at $1 = ¥98.74, against Wednesday's New York close of $1 = ¥99.39, and €1 = ¥130.06, against €1 = ¥131.36.



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