Yen Surges to Highest Level in Over a Week as US Treasury Yields Plummet

The Japanese Yen has advanced to its highest level in over a week against the US Dollar as falling Treasury yields pressure the Greenback.

Larger US Treasury debt buybacks have pushed long-term yields sharply lower, weighing on the Dollar. The move aims to improve liquidity in the long-term government bond market.

The benchmark 10-year yield has fallen by more than 5 basis points to around 4.64%, while the 30-year yield has dropped nearly 10 basis points to around 5.18%.