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Currencies: Dollar hits lowest yen level since 2016 election as trade-war woes spark turmoil

The dollar dropped against most major currencies on Friday, sliding to its lowest level against the yen since the U.S. election in 2016 in a flight to so-called haven assets as the trade rhetoric between President Trump and China hardened.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.25% fell 0.2% to 89.695, on track for a 0.6% decline this week. That would mark its first weekly loss in five weeks.

The yen USDJPY, -0.13% rallied, with the buck buying ¥104.92 compared with ¥105.28 late Thursday in New York.

The euro EURUSD, +0.4308% climbed to $1.2330 from $1.2304 on Thursday, while the pound GBPUSD, +0.3051% was flat around $1.4093.

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