The yen strengthened 0.3% on Friday to 156.28 per dollar, leading gains among major currencies. (AFP pic)SHANGHAI: The Japanese yen hit its strongest level in more than a month on Friday, buoyed by safe-haven flows due to a fresh bout of risk aversion that also sent US Treasury yields sharply lower, pushing the dollar to a nearly three-week trough.
The moves in the currency markets were driven by doubts over the AI spending boom even as Brent crude futures stay above US$110 per barrel, suggesting concerns over economic growth outweighed inflation worries.
The yen strengthened 0.3% on Friday to 156.28 per dollar, leading gains among major currencies. It was set for a 1% gain for the week, its strongest weekly rise since early September.
