Yen surges as US govt bond yields hit lows

London

THE US dollar sank to its weakest since mid-April against the yen on Tuesday, as economic data drove US government bond yields to lows not seen since Donald Trump's election last year and investors sought refuge before big events on Thursday.

Nerves over Britain's election that day showed through in a fall in sterling risk reversals, options used to hedge against or bet on falls in the pound, although the currency steadied after a 3 per cent dip in the past month.