27 July 2016 at 4:37 GMT
The yen plunged on a report that Japanese Prime Minister Shinzo Abe will announce details of a 27 trillion yen ($254 billion) stimulus package on Wednesday.Japan’s currency tumbled against most of 16 major peers after Tokyo-based Fuji News Network reported, citing an unidentified person, that the package will include ¥13 trillion of low-interest loans. The slide spurred broad gains for the US dollar, helping to weaken the Australian and New Zealand currencies. The Aussie erased an earlier advance that came after data showed the nation’s core consumer prices accelerated.
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