Yen Drops 1% Against Dollar Amid Broad Gains for the US Currency
- Japanese currency slides by most in more than a month
- Data in US helped to boost greenback against most G-10 peers
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The yen weakened by the most in more than a month, snapping a two-day advances against the dollar as US economic data propelled the greenback higher.
Japan’s currency dropped as much as 1% to 156.48 per dollar on Wednesday, the biggest intraday decline since May 2. The yen, which had been grinding weaker earlier in the session, extended losses as a reading of the ISM’s business activity index in the US boosted the dollar.