Yen rises in rush for refuge from financial turmoil

Foreign investors seek stability in JGBs as rate hikes hit assets abroad

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The yen touched a month-and-a-half high beyond 130 to the dollar on Friday. © Reuters

RYO SAEKI, Nikkei staff writer

TOKYO -- The recent upheaval in the U.S. and European banking sectors is pushing investors toward the safety of the yen, as they see Japan's low-interest-rate environment as a shelter from the risks emerging elsewhere.

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