Yen gains as AI doubts and Brent above $114 drive safe-haven demand
The yen hit a one-month high as investors sought safety, US Treasury yields fell, and Brent rose above $114 after Houthi attacks in Saudi Arabia.
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what happened
According to Reuters, the Japanese yen strengthened 0.3% on Friday to 156.28 per dollar, its best level in more than a month. Demand for safe assets rose after fresh doubts about the AI spending boom. The 10-year US Treasury yield dropped near a one-month low, and the dollar index fell to 101.52, close to a near three-week trough.
Brent futures, meanwhile, climbed above $114 a barrel, up about 4%, after Houthi attacks in Saudi Arabia raised fears of further supply disruption from the region. OCBC analysts said different risks favour different currencies: the yen benefits from AI jitters, the Canadian dollar and Norwegian crown gain from higher oil, and the Swiss franc attracts demand because of French fiscal stress.
why it matters
Japan's core consumer inflation in September exceeded the central bank's 2% target for the first time in nine months, which strengthens expectations of a Bank of Japan rate hike at its next meeting. ING analysts still expect the 10-year US yield to rise back above 5% eventually.
market impact
Yen and US Treasuries: safe-haven demand and rate expectations pressure the dollar and yields
tags
instruments
sources
- Yen shines as AI jitters spur safe-haven rush — Reuters, 23 October 2026 at 02:05 UTC
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