The yen hovered near its lowest level this year on Monday as more signs of stabi...
TOKYO - The yen hovered near its lowest level this year on Monday as more signs of stabilisation in the Chinese economy and an upbeat start to the U.S. earnings season prompted investors to abandon the safe-haven currency to seek higher returns elsewhere.
The safe-haven Swiss franc has also eased against the euro, which strengthened to 1.1340 franc, recovering its losses made late last month to hit a three-week high on the franc. Although China’s imports remained weak, the data on the whole cemented hopes that the Chinese economy is bottoming out after a soft patch as Beijing has curbed de-leveraging efforts and stepped up support for the economy in recent months.
The S&P 500 index has reached its highest level in six months, coming within sight of testing a record high marked in September last year.
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