Reuters: US Dollar Report: Euro rises to 7-week high versus yen

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Euro rises to 7-week high versus yen Jul 18th 2013, 07:10 LONDON, July 18 | Thu Jul 18, 2013 3:10am EDT LONDON, July 18 (Reuters) - The euro rose to a 7-week high against the yen on Thursday as hedge funds sold the Japanese currency before Japan's upper house elections on Sunday, traders said. The euro rose 0.6 percent to 131.45 yen on trading platform EBS, its highest level since May 31. Recent opinion polls show Prime Minister Shinzo Abe's ruling bloc on track for a big win. That outcome would give Abe more freedom to push forward his agenda to revive the economy through aggressive monetary easing and hefty government spending, all of which is likely to weigh down on the yen.

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