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Dollar near 4-year highs vs. yen

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Shutterstock photo - The dollar was trading close to a four-year high against the yen on Thursday and was broadly lower against the other major currencies as market sentiment remained robust after the Bank of Japan embarked on a massive stimulus program.

During European morning trade, the dollar was holding below the key 100 per yen level, with USD/JPY sliding 0.26% to 99.53.

BoJ Governor Haruhiko Kuroda said Wednesday that the bank was ready to extend its monetary stimulus program beyond two years if necessary in order to reach its 2% inflation target.

The dollar was near five-week lows against the euro, with EUR/USD easing up 0.13% to 1.3087.

Market sentiment was boosted after data showed that China saw a large increase in bank lending in March, adding to signs of an economic recovery, one day after trade data indicated that domestic demand remains strong.

Investors were looking ahead to the results of an auction of Italian government bonds later in the day amid expectations for a solid result as investors seek out higher yielding assets.

The dollar touched seven-week lows against the pound, with GBP/USD rising 0.23% to 1.5361.

The dollar slipped against the Swiss franc, with USD/CHF down 0.14% to 0.9312.

The greenback was broadly weaker against its Canadian, Australian and New Zealand counterparts, with USD/CAD losing 0.15% to trade at 1.0126, AUD/USD rising 0.34% to 1.0577 and NZD/USD rallying 0.99% to 0.8659.

The Australian dollar shrugged off data showing that the country's economy shed 36,100 jobs in March, far more than the 5,000 loss forecast by economists. The unemployment rate rose to 5.6%, from 5.4% in February.

The New Zealand dollar rallied after the country's finance minister said the 2013 budget confirmed that the country was on track to post a budget surplus by 2015.

The kiwi received further support from strong domestic housing and manufacturing sector data.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.17% to 82.46.

The U.S. was to publish the weekly government report on initial jobless claims and data on import prices later in the day. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

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