Yen flies as market challenges BOJ, stocks cheer inflation’s retreat

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Reuters UK

By Tom Westbrook and Kevin Buckland SINGAPORE/TOKYO (Reuters) – Asian stocks rose on Friday as investors cheered a slowdown in U.S. inflation, while the yen hit a seven-month high and Japanese bond yields broke above the central bank’s target as markets challenged Tokyo’s commitment to loose monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8% to hit a new seven-month high and was headed for a third consecutive week of gains. Japan’s Nikkei fell 1.3% and the yen, which surged 2.7% against the dollar overnight, kept going and rose about 0.2% further to 128.65 pe…

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