Yen gains in London

Posted by 7Star Saturday, January 23, 2010

The dollar edged lower while the yen gained on Friday as investors pared back riskier trades as global stocks fell after US President Barack Obama announced plans the previous day to limit risky trading by US banks. The US currency usually benefits from risk aversion, but the plan posed a downside risk for US bank profits and the economy, weighing on the dollar. But analysts debated whether a one-way sell-off in the dollar would continue.

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