Uncertainty Rules, Yen Grows

The Japanese yen gained against its major currency counterparts on the global Forex market today as the stocks fell and the demand for the Japan’s currency rose.
The last working day for the markets before the Christmas shows some elevated volatility compared to the last two days — the dollar is falling on the bad expectations for the macroeconomic reports. The yen snapped its losses from the two previous trading sessions and is now attracting traders that are betting on its «safe haven» appeal.
Analysts interpret the declines on the global stock markets as the signal that the risk-aversion increases. The first wave of growth is caused by the investors seeking the security for their assets, the second wave that usually follows is caused by the short-term speculators.
USD/JPY fell from 90.88 to 90.35 as of 9:41 GMT today. EUR/JPY declined insignificantly — from 126.57 to 126.37. GBP/JPY went down from 133.81 to 133.20 today.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *