Aug 1 Thursday 11:20 GMT
LONDON – The Japanese Yen fell against all of its major counterparties as Japanese investors sent funds into foreign denominated bonds for a fourth week and as the Asian stock market rallied on the better than expected Chinese manufacturing data. Nikkei rose 337.45 points to 14,005 (+2.47%) in Tokyo.
Japanese investors purchased 233.2 billion yen ($2.4 billion) in overseas bonds and notes in the seven days ending July 26 according to a report from the Ministry of Finance in Tokyo.
Dollar Yen rallied to 98.80 from 97.70 while Euro-Yen rose to 130.95 from 130.00.
Bank of Japan Governor Haruhiko Kuroda back in April unveiled a plan to buy more than 7 trillion yen of Japanese debt a month to spur the economy and to end deflation. He said the policy would encourage domestic investors to diversify their investments by purchasing foreign bonds and other assets.
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