Yen stands tall on global growth fears, central bank easing weighs on peers

The yen stood tall on Thursday, after global central banks startled markets with...

TOKYO - The yen stood tall on Thursday, after global central banks startled markets with heavy rate cuts and threats of more to come as world economic risks grow, boosting the appeal of the safe-haven Japanese currency.

Broadening expectations of global monetary easing are now weighing on currencies such as the dollar and the euro, providing the yen with further support.was 0.15% firmer at 106.105 per dollar. It touched 105.500 overnight, its strongest level since Jan. 3, before pulling back slightly. “The decline in Treasury yields sets dollar/yen firmly on downward spiral as the market continues to price more Fed rate cuts. The European Central Bank looks set to ease in September, which will only support the yen even more,” Ishikawa at IG Securities said.

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