Reuters – The yen was on track to post its biggest daily gain in a month against the dollar on Friday, as exporters stepped up month-end purchases and hedge funds piled in, triggering stop losses, traders said.
Japanese corporates sold the dollar which had been drifting lower after hitting a two-month high this week. This prompted hedge funds to follow suit, pushing the greenback through support at its 100-day moving average of 72.20 yen.
