Commodity currencies including the Australian dollar held onto solid gains early on Monday as the dollar and euro fell to the wayside and even lost ground to an otherwise soft yen.
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The yen languished at two-month lows against the dollar on Friday, after Finance Minister Taro Aso said Japan must retain currency intervention.
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The euro wallowed at one-month lows against the greenback in Asia on Tuesday, while commodity currencies nursed heavy losses as concerns about the health of the global economy prompted investors to dump riskier assets.*
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The dollar edged up against the yen in Asia on Monday, pulling up from a fresh record low plumbed late last week, with investors wary that Japanese authorities will take action to weaken the currency.*
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