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Yen-dollar rate at standstill as life insurers lie low

Main forces behind post-Trump weakness now wait for US budget, French election

TOKYO -- The yen's exchange rate seems to have entered a holding pattern this month as Japanese life insurers, who had aggressively sold their home currency for the greenback after U.S. President Donald Trump's election victory, start factoring in looming political risks.

The yen traded in the 113 range against the dollar in Tokyo on Wednesday. Between Trump's win in November and January, the Japanese currency had depreciated from the 101 yen range to as far as the 118 yen range against the greenback. But the rate has moved less than 4 yen so far in February.

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