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Forex Market Update

Monday 19 January 2015

The yen strengthened against other major currencies in Asian trade Monday, after a tumble in Shanghai stocks deepened the cautious mood, pushing investors into the safety of the Japanese unit.

The greenback USDJPY, -0.28%  was at ¥116.96, after dipping to ¥116.92 in the morning.

The dollar was at ¥117.61 late Friday in New York, buoyed by strong U.S. consumer sentiment data and a recovery in U.S. Treasury yields.

The Shanghai Composite Index SHCOMP, -7.70%  fell more than 5% in early trading as Chinese regulators took steps to curb margin trading at several of the country’s largest brokerages. The Shanghai index was down 6.3% at 3163.72 in afternoon trading.

The euro EURJPY, +0.17%  was lower at ¥135.17 against ¥136.07 Friday, while the Australian dollar AUDJPY, -0.44%   fell to ¥96.06 from ¥96.87.

 the euro EURUSD, +0.44%  was at $1.1553 for $1.1569, ahead of a closely monitored policy meeting by the European Central Bank on Thursday at which it may introduce a large-scale bond-buying program.

The WSJ Dollar Index BUXX, -0.18%  , a measure of the dollar against a basket of major currencies, was down 0.04% at 83.83.


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