Yen slips against dollar as China markets find stability

The yen weakened against the dollar and other rival currencies in yet another choppy Asian session Friday as uncertainty over China eased, prompting sales of the Japanese currency which many consider a safe haven.

The greenback USDJPY, +0.70%  advanced to as high as ¥118.59 in the mid-morning from around ¥117.90, after the People’s Bank of China guided its yuan fixing rate slightly stronger.

The U.S. currency maintained much of these earlier gains to change hands at ¥118.34, compared with ¥117.57 late Thursday in New York.

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