The safe-haven U.S. dollar struggled to find its footing following two days of losses as global financial markets regained a measure of stability on hopes a full-blown banking crisis can be averted. | Reuters
The 10-year benchmark U.S. yield pushed as much as 1.5 basis points higher to a fresh one-week peak at 3.583 percent in Tokyo trading, but was last little changed at 3.5677 percent. Last Friday, the yield had dropped to a six-month low of 3.285 percent.
Regarding Tuesday yen’s rally, “it’s not following the rules as one might expect, which maybe says that coming into fiscal year-end, must-do flows are having a disproportionate effect,” Attrill added. The U.S. currency has lost ground as investors took solace in First Citizens BancShares’ agreement to buy all of failed lender Silicon Valley Bank’s deposits and loans, as well as overnight comments by Michael Barr, the Federal Reserve’s vice chairman for supervision, that SVB’s problems were due to “terrible” risk management, suggesting it could be an isolated case.“Issues in U.S.
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