Yen hits 6-wk high as investors seek safe havens

London

THE yen climbed to a six-week high against the US dollar on Wednesday as investors already shaken by Greece's debt crisis were further rattled by plunging Chinese stocks, pushing them to seek out traditional safe havens.

The euro stabilised at around US$1.10, having been boosted a touch late on Tuesday after member states gave Athens until the end of the week to come up with a proposal for sweeping reforms in return for loans.