The dollar inched ahead on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen, while the kiwi briefly hit a one-month low after the central bank extended its bond-buying programme.
The yield on 10-year U.S. debt, which rises when bond prices fall, made its steepest gain in two months on Tuesday ahead of the largest ever 10-year auction later on Wednesday.
That triggered a wave of gold selling, which deepened in Asia, and it has pressured the yen as better returns on U.S. debt lures investment from zero-yielding Japan.
The yen fell 0.24 per cent to 106.76 per dollar, its lowest since July 24.
The tumbling gold price, which has dropped roughly seven per cent in two…
Source: Nigerian Tribune
