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.The euro/yen cross declined 2.5%, its biggest daily percentage fall since 2016 as the common currency a victim of the “risk off” mood.
The benchmark US 10-year yield was 2.8822% having declined each session this week from Monday’s high of 3.203%. Investors are continuing to move towards safe-haven assets fearing central bank rate hikes to constrain inflation could hit global economic growth while MSCI’s gauge of stocks around the world fell to its lowest level overnight since November 2020.
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