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Sterling up against dollar before BoE decision

This article was originally published in Dairy Markets

The yen fell on Thursday morning after hitting a five-month high against the dollar and a two-month peak versus the euro on Wednesday when doubts about the health of the global economy boosted risk aversion trading. The dollar and the euro both lost over 2% against the yen yesterday, their sharpest one-day drops since March, sinking to $1 = ¥91.80 and €1 = ¥127.00 respectively. In early trading this morning the two currencies had climbed back to around $1 = ¥93.15 and €1 = ¥129.50.

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