Risk currencies’ rally hits speed bump, yen rebounds

By Hideyuki Sano TOKYO (Reuters) – Commodity currencies slipped from multimonth highs on Thursday after their rally on strong raw material prices was sideswiped by sudden selling against the yen, in what many traders described as inevitable profit-taking after a long rally. Traders saw no clear trigger for the move, though some traders mentioned unsubstantiated speculation that cash-strapped China Evergrande could make an announcement soon as it battles with possibility of default. The Chinese property giant abandoned plans to sell a $2.6 billion stake in one of its key units on Wednesday. The Australian dollar turned 0.2% lower against the