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Yen, NZ dollar lead gains against US dollar in Asia

Most major currencies gained ground against the US dollar on Thursday, with the Japanese yen and New Zealand dollar the best of the bunch.

Japan’s yen was the best performer, up one-third of 1 per cent to ¥111.02 per dollar.

Also strong was the New Zealand dollar, up 0.3 per cent to $0.7251 as the country’s central bank held interest rates steady at its policy meeting on Thursday and surprised the market with less dovish commentary than expected.

The British pound was down 0.1 per cent at $1.2665. The currency has been whipped around in the previous two sessions on diverging commentary from Bank of England policymakers.

The US dollar index was down 0.1 per cent at 97.502.