Yen Profits from Fears of European Crisis

The Japanese yen rose today as the concern that the sovereign-debt crisis in Europe will worsen bolstered attractiveness of Japan’s currency as a safe haven.

The International Monetary Fund lent €26 billion euro, but said that the loan “entails important risks”. Germany’s Finance Minister Wolfgang Schaeuble stated that bondholders have to contribute a “substantial” portion of a second bailout package for Greece. The MSCI World Index retreated 0.2 percent.

USD/JPY went to 79.82 down from 80.08 today as of 9:51 GMT after rising to 80.26. EUR/JPY dropped to 117.11 from 117.64.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *