The Japanese currency strengthened across the board on Tuesday as the blue-chip stocks of the Nikkei 225, the headline measure on the Tokyo Stock Exchange, slumped in the second half of the trading session. The weakening also coincided with a decline of stock futures in the United States, while the dollar was hit as investors turned away from the safe haven asset as volatility subsided.
The greenback bought ¥107.63 at 9:50 am CET, a drop of 0.9%, compared to the daily low of ¥107.535. The yen slipped below ¥108 per dollar for the first time since September 8.
The euro was 0.28% higher at $1.2326 and the pound rose 0.25% to $1.3868, ahead of the release of British inflation data. The dollar fell 0.42% to 0.93528 Swiss francs.