The yen lifted while commodity currencies dipped in risk-off trade. Oil prices have given back most of the gains seen yesterday following the IEA monthly report, which was upbeat about demand, and most other commodity prices have traded lower. Iron ore futures in China have lost over 5%. Equity markets, meanwhile, have declined in the Asia-Pacific region, Japan's Nikkei closing 1.4% lower, and Australia's ASX by 0.6%, while the Shanghai Composite is presently showing a 0.2% decline.
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