Yen slumps, dollar jumps as rate cut bets recede

Yen slumps, dollar jumps as rate cut bets recede

The dollar was riding high on Thursday after notching its sharpest gain in six weeks as Fed minutes made a December US rate cut seem less likely, while the yen tumbled on bets that Japan would not immediately step in to stem its weakness. Yen drops 1% to 10-month low of 157.18 per dollar after no forex talks with BOJ.

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