The yen post the first significant gains in more than a week versus currencies like the pound and the euro after risk aversion returned to markets today, pushing investors towards the safety of the Japanese currency.
A report today in the U.S. indicated a decrease in consumer confidence in the month of July, which affect trader’s sentiment towards risky assets in stock markets, raising once again attractiveness of refuge currencies like the Japanese yen and the Swiss franc. The yen had been losing since last month as one of the strongest waves of risk appetite this year invited traders to purchase high-yielding assets in emergent-markets.
EUR/JPY traded at 133.79 as of 20:26 GMT after topping at 135.90 twelve hours earlier.
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