Yen reverses course, rises against U.S. dollar

11/25/2008 | Bloomberg

The Japanese yen's two-day decline against the U.S. dollar ended, and the currency started gaining strength, as traders expressed doubts about the bailout of Citigroup having much impact on the lengthy downturn that is expected for the U.S. economy. A currency strategist said expectations of a "deep and prolonged global recession" will support the yen during the coming months.

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