The yen has finally posted a retreat, driving USD-JPY up to a peak of 108.99 in Tokyo trade before settling around 108.60. The pair yesterday logged a 17-month low at 107.67. EUR-JPY and other yen crosses have seen a similar price action. The lower yen facilitated a rebound in Japanese stocks, which today capped a run of seven consecutive declines. The Nikkei 225 closed 0.46% for the better, but is still nursing a 3% decline on the week following a 4% drop in the previous week.
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