The yen has lost some of its safe haven premium in sympathy with a rebound in Chinese stock markets that has been backed up by gains in European markets and U.S. equity index futures. USD-JPY has lifted to the upper 117s., putting in some distance from yesterday's five-month low at 116.70. AUD-JPY, a forex market proxy of China stock markets, recovered from intraday losses of about 1% to a net 0.2% loss. Elsewhere, EUR-USD sank to a two-day low at 1.0841, putting in some distance from yesterday's two-week high at 1.0970.
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