FOREX-Yen slumps past 111 per dollar as U.S. Treasury yields soar

0 5
By Kevin Buckland TOKYO, Sept 28 (Reuters) - The yen slumped to an almost three-month low to the dollar and a two-week trough versus the euro on Tuesday, as rising bond yields in the U.S. and Europe lured Japanese investors. The yen lost about 0.2% to 111.21 per dollar, a level not seen since July 2. It weakened about the same amount to 130.07 to the single currency after earlier touching 130.115 for the first time since Sept. 14. The yen also weakened ahead of a ruling party election on Wednesday that will decide Japan's new prime minister, with frontrunners Taro Kono and Fumio Kishida both backing more stimulus to support the pandemic recovery. While benchmark 10-year Japanese government bond yields <JP10YTN=JBTC > remain pinned near zero by the Bank of Japan's yield curve control policy, equivalent U.
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade