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Dollar falls as Brexit concern spurs safety bid

Tokyo - The dollar fell as Treasury yields declined following a long weekend with investors seeking safety amid concern the UK is heading for a so-called hard Brexit.

The greenback dropped for a seventh day against the yen, the longest losing streak since June, and declined against all its Group of 10 peers. 

The UK is likely to pull out of the European Union’s single market for goods and services and seek a new trading relationship with the bloc, Prime Minister Theresa May will say Tuesday, according to a person familiar with the matter.

“During Tokyo’s day, the market will be waiting for May’s speech, so concern about that is likely to lead to a risk-off mood,” said Shigeki Yoshitoshi, head of Japan foreign-exchange and commodities sales at Australia & New Zealand Bank in Tokyo.

For the dollar against the yen, “the heavy tone feels like it will continue,” he said.

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Rand - Dollar
18.96
-0.3%
Rand - Pound
23.95
-0.2%
Rand - Euro
20.48
-0.1%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.4%
Platinum
911.60
+1.6%
Palladium
1,012.97
+1.1%
Gold
2,216.03
+1.0%
Silver
24.89
+1.0%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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