Yen Approaches Five-Year Low as BOJ, Fed Diverge; Aussie Gains
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The yen traded 0.2 percent from a five-year low against the dollar as the Bank of Japan continues unprecedented easing while the U.S. Federal Reserve begins to pare stimulus.
The yen fell for a third day as the Nikkei 225 Stock Average closed above 16,000 for the first time in six years, reducing demand for the currency as a haven. The dollar held a gain from yesterday against most of its major peers after U.S. reports showed orders for durable goods and new-home sales rose more than forecast. Australia’s currency gained for a fifth session against its New Zealand counterpart.