LONDON—The yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.–China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets.
Against the dollar, the Japanese currency was on track for a fifth consecutive session of gains on Tuesday, taking its cumulative increase to nearly 4.5 percent in five trading sessions. In early London trading, the currency was up 0.6 percent at 130.78 yen, just below a high of 130.40 yen, a level last seen in early June.
Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi weighed on stocks and sent investors scurrying into U.S. Treasuries….