FOREX-Yen weakens to 111 per dollar as U.S. Treasury yields soar

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By Kevin BucklandTOKYO, Sept 28 (Reuters) - The yen traded near an almost three-month low to the dollar and reached a two-week trough versus the euro on Tuesday, as rising bond yields in the U.S. and Europe lured Japanese investors.The yen was little changed at 110.985 per dollar, not far from Monday's low of 111.07, a level not seen since July 5.It was also largely flat at 129.785 to the single currency after earlier touching 129.92 for the first time since Sept. 14.While benchmark 10-year Japanese government bond yields remain pinned near zero by the Bank of Japan's yield curve control policy, equivalent U.S. Treasury yields have soared to a three-month high, touching 1.516% overnight.German 10-year bund yields, while below those on JGBs, have catapulted to the highest since the start of July at minus 0.191% from as low as minus 0.340% just a week ago."The main impact of higher Treasury yields on currencies has been to see USD/JPY make further upward progress, now banging ag
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