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Yen steady after DPJ picks Kan for next Japan PM

Published 06/03/2010, 11:32 PM
Updated 06/03/2010, 11:35 PM

TOKYO, June 4 (Reuters) - The yen was little moved after the ruling Democratic Party of Japan picked Finance Minister Naoto Kan for its new leader on Friday, setting him on course to become next prime minister.

Market players believe Kan would take a tougher stance in fighting yen's strength.

The dollar was steady at 92.75 yen, barely changed from late U.S. trade.

The results came out while the stock market was on its midday break, but Nikkei futures traded in Singapore were little changed. (Reporting by Rika Otsuka; Editing by Hugh Lawson)

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