Risk-off coursed through global markets, propelling the yen upward and the commodity currencies downward. This put the dollar on a mixed footing, and EUR-USD rose to a new four-month high of 1.1354 even as GBP-USD declined. The SEK came under singular pressure after the Riksbank slashed its repo rate to -0.5% from -0.35%. The yen has continued to be the haven currency of choice, showing a 2.3% haemorrhage versus the underperforming Aussie dollar and a 1.6% decline to the dollar, as of the early European PM session.
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