JPY strengthens as gold pull-back triggers safe-haven rotation across Asia

The Japanese yen strengthened against the US dollar on Wednesday after a sharp fall in gold prices prompted a broader safe-haven asset re-balancing in Asia. The dollar retraced from its recent highs, while traders weighed the yen’s appeal amid uncertainty about the newly formed Japanese cabinet. The gold slump followed a record rally, increasing appetite for diversification into currencies. Markets remain alert to shifts in risk assets as geopolitics and bullion valuations drive flows.