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13 Nov 2024

The yen deepens its losses to a 4-month low ahead of U.S. inflation data

The Japanese yen fell in the Asian market on Wednesday against a basket of major and minor currencies, deepening its losses for the third consecutive day against the U.S. dollar, hitting a four-month low, due to weak prospects for a Japanese interest rate hike in December. On the other hand, the likelihood of a U.S. interest rate cut next month decreased after comments from some Federal Reserve officials. To reassess these possibilities, investors are awaiting the release of key U.S. inflation data for October later today

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