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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