The yen has rallied for the fifth straight day, logging a fresh 17-month high at 108.01 against the dollar to bring the cumulative advance the currency has seen since the late March low to 5%. The Japanese currency also logged one-month highs versus the euro and a 32-month peak against the pound. A moderate risk-on day in Asia gave way to a risk-off session during the European AM as oil prices gave up early gains, failing to build on yesterday's rally.
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