Dollar bears flee to yen as safe haven currency

Investors lured by possible BOJ rate hikes amid moves to cut in Europe and US

20250422N dollar yen

The yen reached a seven-month high against the dollar on Tuesday, briefly touching the 139 range. © Reuters

FUTOSHI OGURI

TOKYO -- U.S. President Donald Trump's policies have spooked investors to shift to dollar-selling and yen-buying as a safer alternative, briefly advancing the Japanese currency to the 139 range against the greenback on Tuesday.

Comparing the yen's exchange rates against the dollar and the euro since the beginning of the year, traders have bought the yen fairly consistently against the dollar, while its movements against the euro have remained unpredictable.

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