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The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. At 159.71 per dollar, the yen's level has markets on alert since that is only a whisker shy of where Japanese authorities likely stepped in to buy yen in April. A surprise jump in Canadian inflation that showed up in data released on Tuesday also injected some nerves into otherwise placid foreign exchange trade, sending the Canadian dollar briefly spiking to a three-week high.
Recall impacted over a dozen brands but FDA says no illnesses yet reported from potential contamination