Japan’s Topix benchmark flicked into negative territory in the afternoon session, jeopardising an 11-day winning streak, as the yen began to pare declines.
The Topix was trading flat, while the Nikkei 225 was up 0.2 per cent. During the morning session, the gauges were up as much as 0.9 per cent and 0.8 per cent, respectively.
The yen trimmed losses to 0.2 per cent from as much as 0.5 per cent earlier in the day, when it was threatening to break ¥114 per dollar. It was fetching ¥113.53 just after lunch in Tokyo.
Yields (which move inversely to price) on Japanese government bonds were turning lower, as was the dollar index, a measure of the US currency against a basket of global peers. The dollar index was 0.1 per cent weaker at 101.59.
But most of the movement in the foreign exchange market was between the dollar and yen. Gains and losses for other currencies were still relatively steady from where they were in the morning session.
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