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.
The yen slipped 0.4 percent against the U.S. dollar to 132.70, extending its decline from Friday, when data showed the U.S. economy continued to add jobs at a brisk pace in March.
Ten-year Treasury yields reached 3.413 percent in shortened trading on Friday for the Easter holiday. The yield remained elevated at 3.3719 percent in Tokyo on Monday, when many markets in Asia as well as Europe will remain closed….