The Japanese yen rallied today, reaching fresh multi-year highs against the US dollar and the Great Britain pound, as fears of the Brexit and its impact on the world economy made investors seek safer options.
Fear has returned to markets, and it spurred demand for safe haven assets. The yen is traditionally considered to be one of them. The dollar is another one, but the negligible chances for an interest rate hike from the Federal Reserve made it less attractive.
USD/JPY dropped from 101.72 to 100.73 as of 13:10 GMT today, and its daily low of 100.19 was the lowest since November 2013. GBP/JPY slid from 132.43 to 130.48, touching 128.93 — the lowest level since November 2012.
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