Yen Soars Against the Dollar on Japan’s Bank Holiday

Yen Soars Against the Dollar on Japan’s Bank Holiday

(Bloomberg) -- The yen’s rally extended in explosive fashion Thursday as Apple Inc. cut its quarterly revenue forecast, adding to global growth concerns that had already been highlighted by weak euro-area and Chinese manufacturing data. Japan’s currency climbed against all Group-of-10 peers as thin liquidity on a Japanese bank holiday exacerbated moves. At one point, the yen gained as much as 3.7 percent against the U.S. dollar.

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