Yen Gains as Global Economic Worries Drive Risk Aversion

The Japanese yen gained against its peers on Monday, hitting a six-week high versus the dollar, as fears in the market of global slowdown inflamed demand for the Japanese currency.

The Japanese yen, a perceived safe-haven which entices demand times of market turmoil and political tensions, was 0.15 percent higher at 109.79 to the dollar.

The yen leaped to 0.15 percent to 124.035 per euro and accumulated 0.2 percent to 77.72 against the Australian dollar.