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Yen Posts Biggest Monthly Gain Since February on Brexit Vote

  • BOE’s Carney says bank is likely to ease over the summer
  • Post-Brexit yen forecasts have been raised as much as 20%
Bloomberg business news

Gkionakis: Yen to Bear Brunt of Safe Haven Demand

Updated on

The yen posted its biggest monthly advance since February as financial turmoil sparked by the U.K.’s decision to leave the European Union spurred a global flight to haven assets.

Japan’s currency ended Thursday weaker even after investors sought safe havens after Bank of England Governor Mark Carney said the bank is likely to loosen monetary policy within months to quell a potential economic slowdown fueled by the U.K.’s vote. The dollar strengthened after reports the European Central Bank is considering loosening the rules to carry out additional stimulus.