Yen climbs on Yellen re­marks

The Pak Banker - - MARKETS/SPORTS -

The yen jumped 2 per­cent to its strong­est in 15 months against the dol­lar on Thurs­day in an­other wave of global cap­i­tal flows into the tra­di­tional se­cu­rity of Ja­pan, rais­ing ex­pec­ta­tions of of­fi­cial in­ter­ven­tion to cool the cur­rency's rise.

A chaotic week on Euro­pean and U.S. stock mar­kets has sent in­vestors scut­tling for the per­ceived safety of the yen, up­ping its value against the dol­lar by al­most 9 per­cent since the start of Fe­bru­ary.

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