Economic news

Yen climb to four-month peak against dollar as global stocks drop

The yen jumped to an almost four-month peak versus the dollar on Friday as investors sought a safe haven amid a fall in global stock markets.

Photo: Reuters

The dollar index was unchanged at 90.249 after scaling a two-week peak of 90.567 overnight.

The greenback slipped to 108.50 yen, moving to its four-month trough of 108.28 on Jan. 26. It is losing 1.1 percent for the week.

The euro inched up 0.1 percent to $1.2254 but was on track for a weekly loss of 1.6 percent for the week - its biggest weekly fall since November 2016.

The pound edged up 0.2 percent to $1.3946 after Bank of England policy meeting.

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