The yen strengthened against the dollar for a second day as a slide in Asian stocks and Tuesday’s drop in Treasury yields spurred demand for haven assets.
Japan’s currency rose versus all its Group-of-10 peers, following a three basis point decline in the 10-year Treasury yield. The Nikkei 225 Stock Average halted a three-day winning streak as crude oil’s tumble into a bear market dragged Asian shares lower. The Australian dollar fell to a one-week low while New Zealand’s currency also weakened.
The pound held near a two-month low before Queen Elizabeth II outlines the new legislative program as part of the ceremonial State Opening of Parliament. Her address will be delivered against a backdrop of growing uncertainty as divorce talks with European Union get under way.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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