The sell-off in US tech stocks pushed investors to safer assets, and the yen generally maintained gains in early Friday trading. Strategists expect this shift will further support the yen exchange rate. In early Asian trading, the yen rose 0.3% to 157.26 yen per dollar. Previously, it rose 0.6% to 157.54 yen per dollar on Thursday, outperforming all G10 currencies. This round of gains stemmed from the Democratic Party's overall victory in the US midterm elections this week, and market concerns about the prospects for investment in artificial intelligence triggered a sharp sell-off on Wall Street.
Zhitongcaijing · 2d ago
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The sell-off in US tech stocks pushed investors to safer assets, and the yen generally maintained gains in early Friday trading. Strategists expect this shift will further support the yen exchange rate. In early Asian trading, the yen rose 0.3% to 157.26 yen per dollar. Previously, it rose 0.6% to 157.54 yen per dollar on Thursday, outperforming all G10 currencies. This round of gains stemmed from the Democratic Party's overall victory in the US midterm elections this week, and market concerns about the prospects for investment in artificial intelligence triggered a sharp sell-off on Wall Street.
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