Yen Sinks as Rates Outlook Diverges; New Zealand Dollar Tumbles

Yen Sinks as Rates Outlook Diverges; New Zealand Dollar Tumbles
U.S. dollar and Japan yen notes are seen in this photo illustration on June 2, 2017. Thomas White/Reuters
Reuters
Updated:

TOKYO—The yen sank against major peers on Monday after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero.

Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.–China tensions over Taiwan, with Beijing a key trading partner for the Antipodean nations.