Yen jumps to year high as A$ tumbles in commodities rout

Tokyo

THE yen advanced to its strongest level in a year as a global selloff in equities and commodities deepened, spurring demand for haven assets.

Japan's currency, which has appreciated more than 2 per cent versus all 31 of its major counterparts this year, is buoyed by sliding oil prices and slowing economic momentum in China that's damped the outlook for global growth. The currency stayed higher even after a Japanese official said the government is monitoring the currency market.