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EUR/USD makes gains, USD/JPY tumbles

EURUSD benefited from confusion over a statement from G7 nations that monetary policies would not be directed at devaluing currency

By Richard Nehme | Feb. 13, 2013 11:45 GMT
Euro continues to benefit from weaker USD
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The G7 nations sought to ease tensions over exchange rates by declaring that monetary policies would not be directed at devaluing currencies. But, the lack of clarity in the statement triggered further volatility and sparked confusion in the currency markets, especially the Japanese yen which recorded gains against both the USD and EUR [...]

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