Reported 3 days ago
The yen has surged to its highest level against the dollar in over five weeks, driven by a selloff in tech stocks and increasing demand for the currency as a safe haven. The currency rose as much as 1.5% to 153.74, marking its largest gain in four months, as US Treasuries rallied in response to market concerns. Traders are adjusting positions ahead of expected interest rate hikes by the Bank of Japan, which may further support the yen's strength.
Source: YAHOO