Currency strategists see yen closing out the year in the mid-140s

Speculators scurry to reduce their bets on the yen's fall

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The mighty dollar has taken a 10% hit since early July from a suddenly strengthening Japanese yen. (Photo by Yuji Murakami)

LISA KIM and CHIHIRO ISHIKAWA, Nikkei staff writers

TOKYO -- More currency strategists predict the yen to end the year stronger than they had expected, in the mid-140 range to the dollar, following the currency's recent surge.

The yen has gained 10% against the dollar over the past month, with the rate hovering around 147.5 in Friday morning trading. Last month it cost 161 yen to buy a dollar.

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