Yen backtracks after strong move higher…

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The yen retreated on Tuesday, coming off its biggest one-day percentage rise since mid-July as the currency strengthened on comments from Japan’s top central banker, while the U.S. dollar gained as investors awaited the latest reading on inflation.

The greenback strengthened 0.39% at 147.15 against the yen to recover somewhat from a 0.83% fall on Monday against the Japanese currency after comments from Bank of Japan (BOJ) Governor Kazuo Ueda heightened expectations the central bank could shift away from its negative interest rate policy.

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