Forex
Yen Jumps Against Dollar as Stocks Rebound Amid US-Iran Tensions
Stocks rebounded on Wednesday after three days of declines as investors awaited developments in the US-Iran conflict. The Japanese yen rose sharply against the US dollar, with a 0.79% increase to 158.92 per dollar.
The move in the yen was not immediately clear, but it came after the currency retraced about half of its gains made following a joint intervention by the US and Japan at the end of July.
US Treasury yields eased from multi-year highs, with the yield on benchmark 10-year notes shedding 0.2 basis points to 4.794%.
Investors remained focused on Iran, where fears of renewed escalation gripped the Middle East after the US and Iran exchanged their biggest barrage since July.