0123 GMT — Safe-haven currencies like USD and JPY strengthen in the morning Asian session amid a risk-off mood triggered by weaker-than-expected U.S. economic data released Wednesday. “Clearly, underlying risk aversion and latent demand for haven refuge” aren’t over, says Vishnu Varathan, head of Economics & Strategy at Mizuho Bank, in an email. This is exemplified by USD’s rebound despite lower Treasury yields, Varathan adds. USD/SGD rises 0.2% to 1.3299 while AUD/USD falls 0.3% to 0.6701; EUR/JPY is down 0.2% at 142.84 and AUD/JPY drops 0.3% to 87.91. (ronnie.harui@wsj.com)
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