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The yen made an abrupt jump against the US dollar, while Treasuries rallied and stocks fell, as Wall Street investors rotated abruptly into havens.

The buck was recently down by 1.1 per cent against the yen to Y109.79, its first drop under Y110 since November. Meanwhile, the 10-year Treasury yield fell 6.8 basis points to just under 2.3 per cent.

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