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Yen, dollar firm against euro

This article was originally published in Dairy Markets

The yen and the dollar strengthened against the euro and most other major currencies in early trading on Thursday after US commercial lender CIT Group Inc. said it probably will not receive a federal bailout and a US report showed foreclosure filings increased to a record, boosting demand for safer assets. As of 0746 in London the yen advanced versus the single European currency to €1 = ¥132.28, from Wednesday's US close of €1 = ¥132.97, following three days of losses. The Japanese currency had weakened earlier yesterday to €1 = ¥133.40, its lowest level since July 7.

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