US decline pushes up the yen
THE yen rose to a 15-year high against the dollar and a nine-year peak versus the euro yesterday amid fears the global economy is slowing, testing Japanese resolve to stem the currency's climb.
The decline of the US economy has helped buoy the yen and other safe havens such as the Swiss franc.
Japanese Finance Minister Yoshihiko Noda declined to comment on the chance of the government intervening to curb the yen's climb.