The yen has gained amid a re-emergent risk-off tone in global markets, which is been led by oil price declines. Brent crude is down by over 1.5% today, and by 7% from Friday's peak, with the market lacking faith in producers to implement a supply cut. This, along with ongoing concerns about moderating economic activity in China, has weighed on most stock markets in Asia, and on European and U.S. index futures, while underpinning haven assets.
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