Yen strongest in over a month amid AI spending worries
Business
The Japanese yen just hit its highest point in more than a month, as more people are looking for safe places to put their money thanks to growing worries about the huge spending on artificial intelligence (AI).
This rush to safety pushed US Treasury yields down and dragged the US dollar to its lowest in nearly three weeks.
The yen is now on track for its biggest weekly gain since last September.
Dollar index falls amid oil surge
The US dollar index also took a hit, showing that investors are playing it safe amid economic uncertainty.
Big events like oil prices spiking past $114 after attacks in Saudi Arabia, rising inflation in Japan (which could mean higher interest rates), and global tensions are all shaking up currency markets right now.