Yen rises as Asian stocks drop on fiscal cliff deadlock

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Source: Bloomberg
© Scanpix/Reuters
The Japanese Yen strengthened versus its major counterparts as Asian stocks fell and U.S. officials struggle to reach agreement on the U.S. budget, boosting demand for haven assets. The Yen reached 81.72 per U.S. Dollar, the highest level since November 21, before trading at 81.82. The Euro fell 0.6% to 105.71 yen and has dropped 1.1% this week. 
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