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