Dollar rises against yen as calm returns after Turkish coup attempt

The greenback strengthened sharply against the yen Monday as relative calm returned to the currency market after a failed military coup attempt in Turkey.

The dollar USDJPY, -0.12%  traded at ¥106.13 late Monday in New York, up 1.3% from ¥104.81 late Friday in New York. Despite its sharp gains against the yen, a broad measure of the dollar’s strength DXY, +0.04% declined 0.1% to 96.6150 on Monday, weighed down by gains for the euro and pound. Tokyo markets were closed Monday.

The greenback USDJPY, -0.12%  has risen sharply against the yen so far this month—recording its largest weekly gain since 1999 on Friday—as the immediate fallout from the U.K.’s vote to leave the European Union has been less severe than many investors anticipated, stoking a rally in risky assets like stocks, and declines in safety plays like the yen and gold.

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