The dollar was softer in Asia trading ahead of a release of US inflation data later in the day, pushing the yen to a 15-month high, according to FT report.
The yen was up as 0.6 percent against the greenback at ¥107.19, having earlier broke the ¥107 marker for the first time since November 2016. The dollar index, tracking the greenback against a basket of peers, was down 0.2 percent.
“In my view, the [yen] as a safe-haven currency surged this morning on concern over another stock sell-off that may arise from the release of US January CPI inflation [data],” Qi Gao, a foreign exchange strategist with Scotiabank in Singapore, is reported to have said.
Economists are expecting the US consumer-price index to advance for a fifth straight month.
Amid the dollar weakness other major currencies also marched higher with the euro and the Australian dollar touching one-week highs against the greenback.
The euro was up 0.3 percent at $1.2380, the Australian dollar was 0.2 percent higher at $0.7878 and the pound added 0.1 percent to $1.3909.
The New Zealand dollar was up 0.6 percent, at $0.7317 after a central bank inflation survey showed a slight lift in expectations.
