Yen Declines with Growing Appeal of Higher-Yielding Assets

The Japanese yen’s strength was cut as the demand for the safer currencies dwindled with the decreasing instability in the markets on the speculation that the global economic recovery will widen with a greater pace.

The possibility that the Goldman Sachs will be charged for fraud diminished, reducing the concern for the volatility in the markets, and the report about the growing confidence of the German investors signaled that the outlook for the global recovery has improved. The resulting improvement of the risk appetite prompted the investors to turn away from the safe currencies in favor of the higher-yielding ones.

USD/JPY traded at about 92.87 as of 12:05 GMT up from the opening price of 92.40. EUR/JPY rose to 125.29 from the opening price of 124.62.

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