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After touching its strongest level against the dollar since mid-November on Monday, Japan’s yen has pushed back above the ¥109 mark.

The yen was 0.2 per cent weaker on Tuesday at ¥109.14 against the greenback, having firmed to as strong as ¥108.13 on Monday before ultimately ending the day a quarter of a per cent softer at ¥108.91.

Haven trading more generally eased off on Monday in the US, with the S&P 500 climbing 0.9 per cent. In sovereign bond markets the yield – which moves inversely to price – on 10-year US Treasuries climbed 1 basis point to 2.251 per cent, the first rise since April 7.

Copyright The Financial Times Limited 2018. All rights reserved.

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