8 October 2001, 08:56 Forex - Yen extends gains in midday Singapore trade on flight to safety
SINGAPORE (AFX-ASIA) - The yen extended its gains against the
dollar in midday trade as investors moved to safer currencies after the
US attacks against Taliban targets in Afghanistan, dealers said.
"The strength in the yen is a consequence of the US military action
which is causing the US dollar to weaken substantially while currencies
which are considered a safe haven are getting a boost," a foreign bank
dealer said.
He added however that trading volume was very thin, with very few
"substantive deals so far".
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