Yen gains on concerns over Ukraine and Greece

London

THE yen gained against the US dollar and euro on Monday as investors fretted over the conflict in Ukraine as well as Greece's future in the eurozone.

In his first major speech to Greece's parliament, Prime Minister Alexis Tsipras on Sunday laid out plans to dismantle the "cruel" austerity programme imposed on it by international lenders. He ruled out any extension of the country's bailout, setting himself on a collision course with his European partners. German Chancellor Angela Merkel will meet US President Barack Obama later on Monday to discuss the conflict in Ukraine, where nine troops and seven civilians have been killed in the past 24 hours alone.