Gold continued to rise and the yen hit fresh five-month highs against a host of other currencies in early Asian trade on Wednesday as investors continued to move money out of risky assets.
Gold continued to rise and the yen hit fresh five-month highs against a host of other currencies in early Asian trade on Wednesday as investors continued to move money out of risky assets.
Investor worries over Syria and North Korea sent gold and 10-year Treasury yields to their best levels since November overnight.
The dollar pushed back below ¥110 for the first time since Donald Trump’s election victory. Nevertheless, the yen took a fresh step higher during early trading on Wednesday, falling to below ¥109.50 per dollar.
“It’s really the risk-off trade, ” said Tareck Horchani, head of Asia Pacific sales trading at Saxo Capital Markets.
Meanwhile, Japanese core machinery orders rose 1.5% in February from a month earlier, the government said. That increase was much less than analysts anticipated.
