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Japanese yen recovers as cautious mood in markets prevails

The Japanese yen is the standout performer in Asian trade, in an otherwise mixed day for other major currencies.

The yen was 0.3 per cent firmer at ¥111.19 per dollar in Asia. It recouped about half of Thursday’s decline that had been spurred by easing investor nervousness. The currency, which has proven popular at times of market stress, is, overall, hovering close to its strongest level in a month.

The dollar index, a measure of the US currency against a basket of peers, was down 0.1 per cent at 97.792.

The British pound was up 0.1 per cent at $1.2947, having again traded briefly above the $1.30 mark on Thursday.

The Australian dollar was flat at $0.7419.

The yield on the 10-year US Treasury, a popular bolt-hole in times of market stress was flat at 2.2294 per cent on Friday. Yields move inversely to price. Yields gained on Thursday

Gold was up 0.2 per cent at $1,249.80 an ounce, stabilising after a 1.1 per cent slide on Thursday.