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Yen Tumbles Amid Rising Oil Prices and Widening US Interest Rates

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JPY
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The yen weakened in New York trading on October 10th as rising crude oil prices heightened concerns about accelerating inflation and lifted U.S. long-term interest rates.

Rising oil prices led to a surge in interest rates, which widened the interest rate differential between Japan and the United States. This sparked yen selling and dollar buying, dominating trading.

The Japanese currency fell to a lower 154 range against the dollar, trading at 154.36-46 yen per dollar as of 5:00 p.m., down 0.88 yen from the previous day's closing price.

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