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Currencies

SoftBank risks triggering yen rally with T-Mobile share sale

Coronavirus-induced retreat of Japan's foreign investments adds pressure on currency

SoftBank Group CEO Masayoshi Son: The Japanese tech group may be on the verge of unwinding a massive U.S. investment.    © Reuters

TOKYO -- SoftBank Group's planned 4.5 trillion yen ($41.9 billion) asset sale has fueled fears in the currency market of renewed volatility in the yen, which has enjoyed relative stability underpinned by aggressive Japanese investment abroad.

Billionaire Masayoshi Son's Japanese technology group said Tuesday it has started exploring options to sell or "monetize" shares in U.S. wireless carrier T-Mobile as part of its asset reduction, which was first unveiled in March.

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