Yen Leads Gains Among G-10 Peers as Geopolitical Tensions Simmer
- Dollar-yen breaches 110.00 for first time since November
- Focus on North Korea, Syria as Tillerson heads to Russia
An employee counts Japanese 10,000 yen banknotes in an arranged photograph at the Korea Exchange Bank headquarters in Seoul, South Korea, on Monday, March 16, 2015. The yen fell this month to the weakest against the greenback since 2007 as the Bank of Japan sustains its record stimulus to support the economy while the U.S. recovery raises prospects of higher interest rates.
Photographer: SeongJoon Cho/BloombergThe yen extended gains versus all of its G-10 peers amid geopolitical tensions over North Korea and Syria.
“There’s an undercurrent of risk aversion in the markets,” giving the yen a bit of a haven boost, Scotiabank’s Chief FX Strategist Shaun Osborne said in an interview. Liquidity dwindled ahead of the Easter holiday as traders sought to avoid risky positions until flows return to more normal levels, traders in Europe and London said earlier. The Bloomberg dollar index was down for a second day, with losses of about 0.3 percent, as U.S. Treasury yields and stocks fell.