Safe-haven currencies in demand amid US, Iran tension

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The Japanese yen surged on Monday to a three-month high of 107.77 versus the US dollar, amid Iran tensions.

The moves extended a flight to safety that began last Friday after Iranian Major-General Qassem Soleimani was killed in a US drone strike on his convoy at Baghdad airport.

US President Donald Trump warned of a “major retaliation” if Iran hit back, while Iran’s replacement commander vowed to expel the United States from the region. On Sunday, Iran further distanced itself from the 2015 nuclear agreement with world powers, which the United States withdrew from in 2018, saying it would continue to cooperate with the U.N. nuclear watchdog but would respect no limits to its uranium enrichment work.

The Japanese yen surged on Monday to a three-month high of 107.77 versus the U.S. dollar in Asian trading and was last up 0.2% on the day at just below 108. – Reuters We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!

 

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