Dollar and yen get boost from Japan worries

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Investors worried over the nuclear crisis in Japan and the ensuing worldwide sell-off in stock markets are buying up the globe’s traditional safe-haven currencies: The dollar, Swiss franc and even the Japanese yen.

While the earthquake and tsunami have wrought devastation in Japan, and an intensifying nuclear threat is deepening the crisis, investors expect Japanese investors to close down overseas bets and bring their money home, driving up demand for the yen.

In morning trading in New York, the yen and Swiss franc are soaring against the other major currencies, including the dollar. The U.S. currency is significantly higher against the euro, pound and other currencies around the world.