The Japanese yen declined against the other major currencies in early trading on Thursday, as a rally in stock market weakened the safe-haven currency. The stock market in Japan ended higher today, on speculation that concerted efforts initiated by the central banks as well as governments will succeed in pulling out the global economy out of recession sooner-than-expected. As of now, the yen is trading at 87.47 against the franc, 133.31 against the euro, 143.51 against the pound and 98.05 against the greenback.

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