The dollar USDJPY +0.1820% rose to ¥104.60 from ¥104.14 late Tuesday. The weakness in the yen has shown a strong correlation with a rising Japanese stock market, though that tie has frayed a bit in the past month. Gains in the dollar-yen pair are more strongly correlated with a rising S&P 500, Brown Brothers Harriman currency strategist Marc Chandler told MarketWatch. U.S. stocks were rallying Wednesday on earnings and a strong report on regional manufacturing. Click Here To Register For Free Trial Services
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