Articles
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Dollar And Yen Rise On Global Economic Concerns
During Asian deals on Wednesday, the U.S. dollar and the Japanese yen strengthened against other major currencies as traders continue to bet on safe haven currencies on worries about faltering global growth.
Spanish 10-year bond yields climbed after a debt auction and the U.S. government revised its economic growth estimate downward, sparking fresh concerns over the global economic outlook.
The U.S. Commerce Department said on Tuesday that GDP in the third quarter was downwardly revised to 2.0 percent from the advance estimate of 2.5 percent. Economists had been expecting a more modest downward revision to 2.4 percent.
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