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Increased tension on Korean Peninsula driving up the yen

Japan is odd man out as its currency rises against the dollar, yuan and won

TOKYO -- The yen is the only major Asian currency that is firming amid growing tensions on the Korean Peninsula, with both the Chinese yuan and the South Korean won weakening.

In an about-face on a key campaign pledge, U.S. President Donald Trump has decided not to label China a currency manipulator. In defending his decision, Trump has indicated the move is part of diplomatic maneuvering to ensure that Beijing will support U.S. efforts to pressure North Korea into ending its nuclear brinkmanship.

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