(Bloomberg) -- The yen rallied 1% versus the dollar following Prime Minister Shinzo Abe’s plans to resign due to ill-health.
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The move has currency traders questioning the continuation of Abenomics and even the Bank of Japan’s loose monetary policy, driving demand for the haven currency.
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The yen touched 105.50 per dollar, its strongest in a week, also benefiting from weakness in the greenback following Federal Reserve Chair Jerome Powell’s shift on inflation.
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