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Stock impact report

Yen, dollar buoyed as investors seek safety 4:01am EDT [Reuters]

BANK OF CHINA UNSP/ADR (BACHY) 
NASDAQ:AMEX Investor Relations: boc.cn/en/investor
Company Research Source: Reuters
Yen, dollar buoyed as investors seek safety - Reuters 3 Min Read LONDON (Reuters) - The Japanese yen remained near seven-month highs on Tuesday and the U.S. dollar rallied, as investors unnerved by the Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina’s peso currency sought safety. Investors have flocked to the yen amid an escalating trade war between China and the United States and worries about a global economic slowdown. The Japanese currency, along with the dollar and Swiss franc, is a safe haven in times of uncertainty. The yen got a fresh boost from growing unrest in Hong Kong and surprise election results in Argentina that led to a rout in the country’s currency, the peso, and stocks and bonds. ING analysts said the yen was benefiting “from the best of both worlds”, pointing to general risk aversion and a rush to price in more interest rate cuts by the Federal Reserve. They think the yen will rally to 102 or 103 per dollar later this year. U.S. Treasury yields Show less Read more
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