Market nerves prop up safe-haven dollar, yen

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The yen held most of its overnight gains on Friday, after falling U.S. yields and market jitters propped up the Japanese currency while another Wall Street selloff drove flight-so-safety bid to dollar, which remains near 20-year high peaks. The yen was at 129.14 per dollar on Friday morning, softening on the day after it had reached a two-week peak of 127.5 overnight. Thursday’s 1.2% decline for dollar/yen was its biggest daily percentage fall this year. The euro/yen cross declined 2.5%, its biggest daily percentage fall since 2016 as the common currency a vi…

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