Greenback soars vs. Japanese yen as worries relieve over China US bond stance

Greenback soars vs. Japanese yen as worries relieve over China US bond stance

On Thursday, the evergreen buck tacked on versus the Japanese yen after comments by China's foreign exchange regulator tamed worried that China might reduce its buying of American government bonds.

The US currency rallied 0.2% hitting 111.70 yen, drifting away from a six-week minimum of 111.27 yen on Wednesday.

China's foreign exchange regulator told that a recent report that China was actually considering slowing down or even ceasing its purchases of American Treasury bonds could be based on rumors.

Meanwhile, American 10-year Treasury yields rallied to 10-month maximums and the evergreen buck headed south after the report was released.

Following the regulator's comments on Thursday the evergreen buck and American Treasuries managed to obtain some buying support.

Versus a basket of six key currencies, the evergreen buck tacked on 0.1% reaching 92.396, having dived to 91.922 on Wednesday.

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