The yen advanced past the key psychological level of ¥140 against the dollar as the Japanese currency extended its rally from the weakest point in nearly 38 years in July.
It appreciated as much as 0.6% versus the dollar to ¥139.96 on Monday, its strongest level since July 2023.
The yen has been the best-performing Group-of-10 currency this quarter, with a 15% gain as investors position for a further narrowing of the interest-rate gap between the U.S. and Japan.
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