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Yen strengthens past ¥109 as rattled investors seek havens

Japan’s yen firmed to below ¥109 per dollar on Friday as markets embraced a risk-off attitude in the face of heightened geopolitical tensions between the US and North Korea.

The yen was 0.3 per cent firmer at ‎¥108.92, an eight-week high against the dollar on the currency’s renewed haven status.

It is among the only currencies in the Asia Pacific region to benefit from the war of words between Washington and Pyongyang, with Friday’s gains taking it 1.6 per cent stronger for the week to date. By comparison, South Korea’s won is down 1.9 per cent this week.