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Market Update: Japanese Yen Holds Near 2-Month Lows
The Japanese Yen strengthened slightly to 109.9 against the US Dollar after the Bank of Japan announced a new initiative for providing funds for bank lending to climate-friendly businesses, while extending by six months the deadline for its pandemic-relief support and keeping its ultra-easy monetary policy stance. Still, the yen remains close to 2-month lows of 110.8 touched early in the month, amid general Greenback strength after the Fed adopted a more hawkish tone. Meanwhile, the Japanese government lifted the coronavirus state of emergency in Tokyo and eight other regions while keeping some restrictions amid concerns about a surge in infections with a little more than a month until the Tokyo Olympics. [/s2If]
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