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Yen Gains Versus Major Peers as Asia Stocks Drop on S&P Warning

The yen rose against its major counterparts as Asian stocks declined after Standard & Poor’s put 15 European nations on watch for potential downgrades, boosting demand for the currency as a refuge.

The yen gained 0.3 percent to 103.96 per euro as of 10:23 a.m. in Tokyo. It strengthened 0.1 percent to 77.74 against the dollar.

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