The Japanese yen advanced today as the escalating tensions between Russian and Ukraine threaten the global geopolitical stability, making investors to flee from riskier assets and seek a safe haven for their capital.
The yen often profits from fears and uncertainty. And there is definitely a reason to be afraid now as some experts say that the political tension in the Eastern Europe may spark a new Cold War. Unsurprisingly, the ruble was down, while safer currencies, including the Japanese one, strengthened.
USD/JPY dropped from 101.47 to 101.23 as of 11:46 GMT today. EUR/JPY declined from 139.60 to 139.42 after rallying to 140.06 earlier.
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