Yen drops to lowest in five yearsThe Yen hits its five-year weakest level of 116.00 as US bond yields climbed a second day in a row. Source: Pixabay Rand update Commodity updatePrecious metals ended stronger yesterday, with Gold up 0.8%, Platinum up 1.9%, and Palladium up 2.6%. This morning, all three metals are trading relatively flat at $1,815 for Gold, $976 for Platinum, and $1,867 for Palladium. Brent managed to breach the $80.00 levels after OPEC+ confirmed their planned production increase for February. This morning Brent and WTI are both a touch softer at $79.82 and $76.79, respectively. International updateThe euro fell below 1.1300 yesterday while the yen hit a five-year weakest level of 116.00 as US bond yields climbed for the second day in a row. The 30y-yield is currently quoted at 2.06%, and the 10y-yield at 1.65%. The DXY index is holding at 96.26, with the euro trading at 1.1290 and the pound at 1.3525. The Dow closed at a new record high again yesterday, up 0.59% on the day, but there were losses for both the S&P and the Nasdaq. Asian-Pacific stocks are all in the red this morning, while US futures have opened lower. The JSE had a strong day yesterday, with the ALSI ending 1.8% up at 75,052. |