Yen inches higher ahead of Trump speech

London

JAPAN'S yen was the only substantial mover among major developed world currencies on Tuesday, rising a third of a per cent against the US dollar and euro as investors sought safe havens for their money before a speech to Congress by President Donald Trump.

Indications that Mr Trump would use the set-piece to preview elements of his plans to cut taxes for the middle class and make US companies more globally competitive helped the dollar recover losses in the US session on Monday.