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The safe-haven Japanese yen slid from recent peaks against the greenback on Wednesday as solid gains in oil prices helped underpin risk appetite. The yen has mostly brushed off recent comments by Japanese officials warning that a rapid appreciation by the currency was unwelcome.
The Canadian dollar hovered just under a nine-month peak, having rallied along with other commodity currencies such as the Australian dollar on higher oil prices. Also helping the currency, the Bank of Canada is widely expected to hold interest rates at 0.5 percent following its meeting on Wednesday. After a run of better-than-expected economic data at the start of the year, the central bank is also likely to raise its growth forecasts.
The Aussie extended gains as upbeat China trade data favoured risk appetite. Chinese exports in March rose a much stronger-than-expected 11.5 percent, the first increase since June and largest gain since February 2015.
EUR/USD: during the Asian session the pair fell to $1.1365
GBP/USD: during the Asian session the pair traded in the range of $1.4255-80
USD/JPY: during the Asian session the pair rose to Y108.95
Based on Reuters materials
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