Traders fleeing to yen in global rout become enemy of Abenomics

Tokyo

RISK-AVERSE investors are becoming the nemesis of Japanese Prime Minister Shinzo Abe.

The yen is the best-performing major currency this quarter amid a rush for havens from the turmoil stalking global markets. Options suggest that there is an almost even chance of a gain to 115 per US dollar by Dec 31, a level that the currency has not closed at all year.