The Japanese currency weakened as far as 114.935 yen per dollar for the first time since Nov. 26, approaching the year-to-date low of 115.525 reached Nov. 24.
The safe-haven yen and Swiss franc gained on Friday as global equities and bond yields fell on fears about the spread of the Omicron variant
NEW YORK (Reuters) - Oil prices slid and global stock benchmarks fell Tuesday after a warning from drugmaker Moderna that existing vaccines are unlikely to be effective against the new coronavirus variant pushed investors into safe havens such as Treasury bonds and the yen.
TOKYO (Reuters) - A weak yen, once seen as favourable for Japan's exports-focused economy, has now become a pain point as it eats into household finances and confounds policymakers.
Global stock markets have rallied this week as fears about a stagflationary economy have been eased by forecast-beating corporate earnings in the United States.
The yen was little changed at 110.985 per dollar, not far from Monday's low of 111.07, a level not seen since July 5.
The Turkish lira slumped toward a record low versus the dollar after President Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high rates
The Japanese yen hit a seven-month low on the dollar on Thursday as hopes that vaccine distribution and more government stimulus will drive the US economy into a solid rebound
Strong currencies reflect strong economies
Leveraged funds are likely to buy the Japanese currency as the diagnosis triggers a surge in haven bids, reversing the small bearish position they held last week
(Reuters) - The U.S. dollar is likely to continue weakening against developed market currencies after the U.S. Federal Reserve's shift to a new monetary policy strategy, a portfolio manager at bond giant PIMCO said on Tuesday. Erin Browne, managing director and portfolio manager at PIMCO, told the Reuters Global Markets Forum she had become more bearish on the U.S. dollar <.DXY> over the last three months.
In early trade the safe-haven Japanese yen rose to a one-week peak of 105.83 per dollar as investors looked to jittery equity markets to set the tone
The yen's recent appreciation comes as the world's third-largest economy has been bottoming out from its deepest postwar slump
About 85 per cent of traders are men, mostly in their 30s, 40s and 50s, according to estimates from Gaitame
The plan, if it does go ahead, may need to be revised, according to Kenichi Kurahashi, a Tokyo-based chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co
'The yen's roaring higher was a sign of just how widespread concern over the health of the global economy had become'
The dollar was firm at 109.260 yen , having fallen to as low as 109.120 overnight