RTRS: FOREX-Yen spikes broadly, dollar gains as risk unloaded
LONDON, Oct 24 (Reuters) - The dollar and yen surged broadly on Friday, hitting multi-year highs versus major currencies, as tumbling share prices intensified risk aversion against a backdrop of a looming global recession.
The Japanese currency struck a 13-year high against the dollar and six-year peaks versus the euro as investors unwound riskier investments funded in the low-yielding currency.
The yen's rapid gains intensified even after Japanese Prime Minister Taro Aso to say moves in foreign exchange and stock markets could negatively affect the real economy.
The yen hit 13-year highs against the dollar at 92.80 yen , while the euro dropped more than 6 percent to a six year trough at 117.21 yen .
The euro extended its fall against the dollar to $1.2577 , while the dollar index, a gauge of its value against a basket of six major currencies, was up 2.19 percent at a two-year high of 86.751.
