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Japanese Yen Gets Boost on Risk Aversion

02/14/13 by  
Filed under Forex & Futures

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Yen in currency trading

Japanese yen is getting a boost today, heading higher against its major counterparts as risk aversion sets in. Yen is in demand as a safe haven currency today, in spite of Japan’s struggling economy.

The latest news out of Europe has many concerned about a lingering eurozone recession, and there are questions about the job market in the United States. With these worries weighing on sentiment, yen is showing strength right now.

However, the strength may be short-lived. After all, the new Prime Minister, Shinzo Abe, is well-know for preferring aggressive stimulus. If the risk aversion goes away, focus will be back on the chance that the yen will be weakened by easing measures. 

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