Yen, Swiss Franc Rise as Stock Slump Pares High-Yield Demand
July 1 (Bloomberg) -- The yen and the Swiss franc rose against all of the other major currencies as stock market losses and concern global economic growth is slowing eroded demand for higher-yielding assets funded in Japan and Switzerland.
Japan's currency climbed to the highest level in almost four weeks versus the Australian dollar after the Reserve Bank of Australia said growth will weaken. The dollar pared its loss against the euro as an industry report showed U.S. manufacturing unexpectedly expanded in June for the first time in five months.
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