Yen up, commodity and emerging market currencies down. This has been the order of the day as risk-off courses through global markets. USD-JPY was showing a 0.9% decline as of the early European PM session, while the biggest mover was registered by NZD-JPY's 1.8% haemorrhage, closely followed by AUD-JPY's 1.3% loss. Oil prices dropped for a third consecutive session, with Brent crude down 0.7% and in one-month low territory, as the spectre of oversupply once again takes effect. Data showed Russian production at a 30-year high in March, which follows news of the first drop in U.S.
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