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Yen climbs against major counterparts as refuge demand increases

Posted on 12 March 2014

The yen gained for a second day versus the dollar on demand for safety as stocks and commodities fell amid concern about instability in China’s financial system.
The Japanese currency advanced versus all of its 16 major peers as copper plunged to the lowest level since 2010. China had its first onshore bond default last week and over the weekend reported its biggest trade deficit in two years. Yields on Treasury 10-year notes fell for a second day. The South African rand tumbled as business confidence in the country unexpectedly declined………………………………………..Full Article: Source


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