Foreign exchange markets were steadier in early Asia-Pacific trading after the dollar pulled back overnight but the yield on US Treasuries edged higher.

The dollar index, measuring the greenback against a basket of peers, was basically unmoved in early Asia-Pacific trading at 95.03. 

The yen, often a favoured asset during market uncertainty, was a fractionally weaker at ¥112.05, after firming from above ¥113 against the dollar earlier in the week. 

The onshore renminbi, which moves with a trading band set by China’s central bankers, was 0.2 per cent weaker at Rmb6.9024. The offshore renminbi was down 0.4 per cent at Rmb6.8802. The Australian and New Zealand currencies were also steady against the dollar at $0.7120 and $0.6522, respectively. 

In sovereign debt markets, the 10-year US Treasury yield rose 2 basis points to 3.169 per cent as it moved back toward the Tuesday’s seven-year peak after weakening on Thursday. That on the Japanese equivalent was flat at 0.135 per cent.

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