The dollar rose to a two-week high against the yen on Tuesday as ebbing concerns...
TOKYO - The dollar rose to a two-week high against the yen on Tuesday as ebbing concerns about weakness in the global economy lifted U.S. bond yields from 15-month lows.
The 10-year Treasury yield stood at 2.495 percent, pulling back from a 15-month low of 2.34 percent brushed last week when risk aversion driven by concerns towards a global economic slowdown gripped the financial markets. The Institute for Supply Management said on Monday that its index of national factory activity rose to 55.3 in March from 54.2 in February, which had marked the lowest level since November 2016.
“We have seen a surprising succession of positive indicators emerge after excessive pessimism towards the economy dominated the markets through March,” said Mitsuo Imaizumi, chief forex strategist at Daiwa Securities.
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