The yen declined to a two-week low against the euro and lost versus several other currencies as a report in China indicated an increase in manufacturing, helping investors to be confident to purchase high-yielding assets throughout the world.
The Japanese currency, often associated with risk aversion by traders due to its relative safety, declined against all major currencies after the Federal Reserve confirmed signs of economic recovery in the American economy.
The Japanese yen, often associated as the best performing currency in times of crisis due to its refuge investment profile, lost today as the OECD predicted an unexpected growth to its member countries, spurring demand for high-yielding assets.
The Japanese currency gained against all 16 most traded currencies as economic concerns continue to rise around the world, causing another day of losses in stock markets, and spurring demand for the safety of the yen.
The yen, considered as a refuge investment for moments of instability, rose as the political crisis in Iran deepens, creating tension in the international financial scenario.
The yen had another day of losses as equities markets around the world rebounded, damping demand for the Japanese currency as a refuge, and making high-yielding currencies to climb.
The yen had a day of massive gains versus the main high-yielding currencies as Asian stocks fell after speculations that a report may indicate a slowdown in U.S. industrial production, creating a risk aversion sentiment among traders.
The Japanese currency had a day of losses against major currencies and higher-yielding assets as the global slump eases, improving investor’s confidence to take riskier positions.
The yen hit a 8-week low against the dollar and also lost ground against the euro, as Japanese investors, driven by a new wave of confidence on world markets, return to overseas investments.
After a rebound in the North American consumer confidence, Asian stocks rallied, decreasing demand for safer investments such as the Japanese yen.
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