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Yen falls below 146 for first time since August 1998

Japanese finance minister hints at more intervention in currency market

The yen dropped to a fresh 24-year low below 146 to the dollar on Oct. 12. (Photo by Kosuke Imamura)

TOKYO (Reuters) -- The dollar rose to a fresh 24-year high against the yen on Wednesday, moving above levels that prompted intervention by Japanese officials last month, as traders braced for U.S. inflation data and its impact on further Federal Reserve rate hikes.

Sterling slipped to a new two-week trough after Bank of England Gov. Andrew Bailey reiterated that the central bank will end its emergency bond-buying program on Friday and told pension fund managers to finish rebalancing their positions within that time frame.

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