The yen has remained soft, with USD-JPY edging out a six-day peak of 114.87, though directional impetus has been limp with the pair subsequently ebbing back under 114.50. Stock markets in Asia remain buoyant, but gains today have been modest, contrasting to yesterday's surge. Oil prices continued on a solidly northward path, however, with NYMEX crude showing another 5% gain, which drove USD-CAD to an 11-day low at 1.3745. Oil ministers from Saudi Arabia, Russia, Qatar and Venezuela are meeting in Doha today to discuss trimming output of crude.
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