The Yen Is Now Resurgent Even as Broad Dollar Strength Persists
- Change in sentiment toward yen seen as US stocks slide: ANZ
- Barclays says one-way path for dollar-yen is turning around
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The yen’s two-month freefall looks to be over as slowing growth in China and expected damage to the US economy from Federal Reserve rate hikes bolster its haven credentials, strategists say.
The currency jumped 1.3% to 128.34 per dollar Thursday, extending its rebound after last week plummeting to 131.35 against the greenback, its weakest level in around two decades. The move came even as the U.S. currency soared against most peers in haven-inspired trading.