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In the currency markets, the Japanese yen has fallen to a six-year low, after the Bank of Japan stepped in to stop government bond yields from rising above its key target. (A bond’s yield is the return to an investor from the bond’s coupon, or interest, payments.)
Rising yields on US government bonds, known as Treasuries, have pushed the dollar higher against other currencies too. Yields on two-year and 10-year Treasury bonds hit the highest levels since spring 2019. Continue reading...
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