The US dollar is extending Thursday’s decline in Asia, pushing USD/JPY to session lows near 108.50 amid a stimulus-driven uptick in the Asian stock markets. The decline is not so much due to Yen demand but looks to have been fueled by the broad-based losses in the US dollar. […] The dollar is being offered likely due to the unprecedented fiscal and monetary stimulus unveiled by the US government and the Federal Reserve in the last five days. […] While the Japanese yen is a classic haven asset, during times of crisis markets trend to treat the US dollar as an anti-risk currency. The dollar index rose sharply from 94.65 to 103.00 in the 10 days to March 19, as the crash in the equity markets triggered margin calls and liquidity crises, forcing investors to seek safety in the US dollar .
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