Japanese Yen Rises on US Economic Data

The Japanese yen rallied on Wednesday, while riskier currencies such as the Australian dollar and sterling fell as traders awaited US jobs data. The yen rose about 0.3% to 145.02 per dollar, following a 1% rally overnight against a broadly stronger dollar. The dollar-yen pair tends to track long-term US Treasury yields, which fell about 7 basis points (bps) overnight and continued to decline in Asian trading hours to stand at 3.8329%, as investors flocked to the safety of bonds. The dollar was firm against most other major peers. Sterling was flat at $1.3110, after weakening 0.23% overnight. The euro rose to $1.10495, following a 0.26% decline in the previous session. The Australian dollar fell 0.15% to $0.67015, having fallen 1.2 percent on Tuesday. Source: Qatar News Agency