Thursday, May 17, 2012
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FOREX-Yen backs off peaks, Aussie lifted by GDP

The yen retreated from a seven-week high against the dollar and euro on Wednesday, pushed back after economic growth in Australia supported the case for an early rise in rates and powered the Australian dollar higher. >>

* Yen backs off highs vs dollar and euro

* Aussie gains after Q2 GDP as rate hike expectations rise

* Shanghai shares up, but most other regional stocks fall

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