Yen's Best Two-Week Run Since 1998 Just the Start for Citigroup
- Currency gains more than 6% in two weeks as haven from turmoil
- Two trillion dollar asset manager State Street is a buyer
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When the going gets tough, foreign-exchange traders turn to the yen.
Japan’s currency may extend its biggest two-week rally since 1998 as investors continue to seek out refuge assets amid market turmoil, according Citigroup Inc. State Street Global Advisors Inc., which oversees about $2.4 trillion, says it’s buying yen and selling dollars as the tumult gripping financial markets bolsters the Japanese currency’s appeal.