Key facts
- Yen hit its strongest level in over a month on Friday.
- Concerns over AI spending boom drove safe-haven flows.
- US 10-year Treasury yields near a one-month low.
- Brent crude futures above $114 per barrel.
- Canadian dollar at its strongest level in a month.
- China's offshore yuan at its strongest level in over four years.
The Japanese yen reached its strongest point in over a month on Friday, driven by safe-haven demand amid renewed concerns about the sustainability of the AI spending boom. This risk aversion also sent US Treasury yields lower, pushing the dollar to a near three-week trough. Brent crude futures remained above $110 per barrel, indicating that worries about economic growth were overshadowing inflation concerns. The yen strengthened 0.3% to 156.28 per dollar, on track for its largest weekly gain since early September. The dollar index dipped to its lowest level since the start of the month. US 10-year Treasury yields hovered near a one-month low at 4.953%.