The yen and the Swiss franc rose on Thursday as jitters over the chance of Russian intervention in Ukraine added to concern around global emerging markets and drove capital towards the currency world’s traditional safe havens.
The franc hit its highest to the euro in 10 months in early European trade, rising 0.2 percent against a euro also buffetted early on by signs German inflation may have slowed in February.
The broad flight into currencies like the yen and franc that tend to draw investors in times of market stress or risk, also saw the yen gain 0.7 percent against the European single currency and half a percent against the dollar.
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