Yen broadly higher as risk sentiment takes hit

London

THE yen gained broadly on Tuesday, jumping over one per cent against the low-yielding euro, as a recent rally in risky assets and crude oil fizzled out, reviving demand for the safe-haven currency.

The euro fell to its lowest since April 2013 against the yen and dipped below US$1.10 against the US dollar for the first time in three weeks after a key index on German business climate fell sharply, raising worries about Europe's largest economy.

The safe-haven Swiss franc jumped to a one-month high against the euro, helped in part by comments from Swiss National Bank president Thomas Jordan, who said that ther…