Yen Rises with Increasing Demand for Safe Haven

The Japanese yen rose today against most other major currencies on the speculation that the slowdown of the global economic growth will increase demand for the Japanese currency as the safe haven.
The experts estimated that the sales of the existing homes in the US dropped 13.9 percent in July, following the decline by 5.1 percent in May. The government report will be released on August 24th. The Stoxx Europe 600 Index was little changed, following the two days of the decline.
USD/JPY traded near the opening level of 85.38 today as of 9:00 GMT after it slumped to 85.18. EUR/JPY fell from 109.48 to 108.99.

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