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14.08.201404:37:47UTC+00US dollar firms against Japanese yen

The US dollar advanced against the Japanese yen in Asia Thursday as investors snapped up the greenback despite better risk sentiment and emboldened by an escalating stock market.

Traders initially expected calm despite the Japanese summer holiday. But all of a sudden, bids from local and international investors glided the US dollar up at ¥102.66, the highest since August 5

The dollar traded at ¥102.58, up from Wednesday’s ¥102.45 in New York. The currency was at 1,022.3 Korean won, down from Wednesday’s 1,028.9. Korean won.

“Hard data in the U.S. on the whole suggest that the economy is in good shape, despite some slack in the labor market,” said Yasuaki Amatatsu, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ. 

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