Yen hits one-month high as US tech selloff revives haven demand

Bloomberg ·
Yen hits one-month high as US tech selloff revives haven demand
  • The yen advanced as much as 0.4% to 156.08 per dollar in Tokyo on Friday, its strongest level since Sept. 18, after a 0.9% gain Thursday.
  • After weeks in a narrow range against the dollar, the yen broke out over the past 24 hours.
  • A deepening selloff in technology stocks drove investors into traditional haven assets, including the yen, Japanese government bonds and US Treasuries.