Yen Holds Advance as U.S. to China Growth Outlook Weakens
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The yen held its best monthly gain in a year as weaker-than-expected data for China and the U.S. underscored concerns that the world economy is stumbling.
Japan’s currency, often regarded by investors as a haven amid market turmoil, advanced Friday against the dollar as traders pared bets the Federal Reserve will raise interest rates by December. The Aussie gained for the first time in four days after an index of house prices jumped the most in six months, undermining speculation the Reserve Bank of Australia will cut interest rates tomorrow.