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Yen Hits One-Month High as US Tech Rout Revives Haven Appeal

Bloomberg Markets Friday 23 October 2026, 01:15 UTC By John Cheng 1 min read
Key Points

Currencies Yen Hits One-Month High as US Tech Rout Revives Haven Appeal The yen extended its rally to the strongest level in more than a month, as a deepening selloff in technology stocks drove investors to traditional haven assets including Japan’s currency, the nation’s government bonds and US Treasuries. After weeks stuck in a narrow range against the dollar, the yen has broken out over the past 24 hours and is now trading at a level last seen on Sept. 18, when the Bank of Japan raised...

Currencies Yen Hits One-Month High as US Tech Rout Revives Haven Appeal The yen extended its rally to the strongest level in more than a month, as a deepening selloff in technology stocks drove investors to traditional haven assets including Japan’s currency, the nation’s government bonds and US Treasuries. After weeks stuck in a narrow range against the dollar, the yen has broken out over the past 24 hours and is now trading at a level last seen on Sept. 18, when the Bank of Japan raised interest rates. The Japanese currency advanced as much as 0.4% to 156.08 per dollar in Tokyo on Friday, following a 0.9% gain Thursday.
Yen Hits (PERSON) US Tech Rout Revives Haven (ORG) Japan (LOCATION) US Treasuries (ORG) the Bank of Japan (ORG) Japanese (ORG) Tokyo (LOCATION)
Originally published by Bloomberg Markets Read original →

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