⁍ The dollar was on track for its fifth straight day of declines against the yen.

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⁍ The yen was at a seven-week high against the greenback on Friday.

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⁍ Japan’s policy of yield curve control was also a factor as it was pushing up real interest rates.

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– The dollar fell to a seven-week low against the yen on Friday as investors sought the safety of Japan’s currency. The dollar was down 0.33% against the yen at 104.38 yen as of late morning in New York, reports Reuters. The yen has been on the rise this year as investors seek a safe place to park their money in the face of economic uncertainty in the US, rising US interest rates, and rising tensions with China. “The market would be a lot more excited about this news if it felt the UK was well on its way toward recovery,” says Boris Schlossberg of BK Asset Management. “But now with a huge resurgence in infections, there’s a serious threat of a secondary lockdown which could bring this recovery to a grinding halt.”