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The Japanese yen hit its weakest level in more than a week after Japan’s opposition leader and frontrunner to become the next prime minister suggested the Bank of Japan could consider buying foreign bonds as part of its monetary easing programme.
The dollar rose 0.5 per cent against the yen to hit a session high of Y82.74 on the comments, reported in local media, by Shinzo Abe, leader of the Liberal Democratic party, to trade close to a seven-month high hit the previous week. The euro climbed 0.7 per cent to Y107.66, its strongest level against the yen since April.