- The yen had a strong finish to last week as it drove towards its largest advance against the dollar in over 16 months as global stocks fell and Japan prepared for national elections this weekend. The Japanese currency has gained 2.2% this week, the most since August 2013. However, in the grander scheme of things Prime Minister Shinzo Abe’s economic policy of monetary easing, fiscal spending and structural reform have seen the yen tumble 30% in the last two years.
- The Norwegian krone finished what had been a disastrous week at more than 11-year lows against the US dollar. This came following the central bank’s decision to cut its deposit rate to 1.25% from 1.5%.
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