Yen recovery continues on lower US yields; markets on edge over Pelosi - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 02.08.2022 06:59:00
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The dollar continued its decline on Tuesday, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.

Jitters about the impact of an impending visit to Taiwan by US House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies.

The benchmark 10-year Treasury yield fell to 2.53%, its lowest since April, in early trade on Tuesday. Wong attributed this partly to the tensions around Pelosi’s visit as well as poor economic data from China over the weekend.

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It only feels strong in South Africa, and with the news of Blinken/Ramaphosa meeting, it will gain more strength.

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