Yen advances as haven demand grows

London

THE yen advanced to the strongest level in more than a month versus the dollar as Saudi Arabia and its allies bombed targets in Yemen, increasing demand for haven assets.

The Canadian dollar and Norwegian kroner rose with the price of crude oil after rebels known as Houthis pushed deeper into Yemen's dwindling government-held area. The dollar weakened against most of its 16 major peers as the Bloomberg Economic Surprise Index showed US economic indicators are undershooting analysts' estimates by the most in six years.