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Yen dives on buzz over money printing

The yen plunged yesterday as traders bet on a huge expansion in money printing from Japan's central bank in the wake of a landslide election victory for the Liberal Democratic Party.

The triumph of former prime minister Shinzo Abe, who is committed to aggressive monetary easing, sent the dollar as high as ¥84.48, the strongest since April 2011. Mr Abe is also committed to big public spending.