NEW YORK: The Japanese yen sank against the dollar and euro Monday as investors turned to riskier assets after the military coup in Turkey failed.
The dollar surged 1.3 percent against the yen from late Friday, to 106.14 yen. The euro put on 1.6 percent to 117.56 yen.
Traders piled into the yen late Friday as military factions in Turkey attempted to overthrow the government of President Recep Tayyip Erdogan.
Erdogan's quick assertion of his power within hours stifled the putsch, and with the country appearing calm by the end of the weekend, traders were encouraged back to equities and riskier currencies.
The euro meanwhile was slightly higher against the dollar at $1.1075 ahead of a European Central Bank meeting this week expected to hold monetary policy firm.
EUR/USD 1.1075 1.1041
EUR/JPY 117.56 115.70
EUR/CHF 1.0882 1.0853
EUR/GBP 0.8355 0.8380
USD/JPY 106.14 104.79
GBP/USD 1.3257 1.3174
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