The yen, regarded as a safe haven in times of geopolitical turmoil because of its deep liquidity as well as Japan's current account surplus, quickly reversed its gains made after Wednesday's missile strike. The dollar traded at 109.08 yen, jumping back sharply from a three-month low of 107.65 yen touched on Wednesday.
TOKYO: The Japanese yen and Swiss franc retreated on Thursday as the United States and Iran backed away from the brink of further conflict in the Middle East.
U.S. President Donald Trump responded overnight to an Iranian attack on U.S. forces with sanctions, not violence. Iran offered no immediate signal it would retaliate further to a Jan. 3 U.S. strike that killed one of its senior military commanders.
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