FOREX-Yen sags, Aussie gains as higher yuan guidance soothes frazzled nerves

January 8, 2016 4:10 AM

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TOKYO/SYDNEY, Jan 8 The yen reversed course and sagged against the dollar while the Australian dollar rebounded on Friday after the People's Bank of China (PBOC) set a higher yuan guidance rate for the first time in nine days.

The dollar was up 0.5 percent at 118.305 yen, pulling away from a 4-1/2-month low of 117.33 struck overnight as the region's equity markets bounced after a brutal week.

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