Reuters: Dollar falls again as banking sector fears ease, yen climbs
03/28/2023 13:23
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The U.S. dollar fell on Tuesday as receding fears of a full-blown banking crisis slowed demand for so-called safe haven assets, as mentioned in Reuters.
But the yen rallied, despite traditionally also being a safe haven, with analysts pointing to a pick-up in flows ahead of the end of Japan's fiscal year on Friday.
The dollar fell as low as 130.51 yen , and was last off 0.29% at 131.2 as the Japanese currency rose. That undid some of the dollar's 0.64% jump against the yen in the previous session, which tracked a large rise U.S. government bond yields.
