Forex News

The Japanese yen rose today as the traders don’t believe that the intervention by the Bank of Japan would be able to keep Japan’s currency from rising further.

The Japanese yen gave up some of its recently conquered positions against the other major currencies as the investors continued to hold their bets on the monetary intervention in Japan.

The Japanese yen retreated from its 15-year maximum level against the US dollar and from the all-time high against the euro after the Japanese Finance Minister said that the appropriate action is needed in the Forex market.

The expectations for the worsening of the global economic situation in the developed nations fueled the risk-averting mood in the foreign exchange market, pushing the Japanese yen to the new yearly maximums today.

The Japanese yen is considered a safe currency, which makes it attractive in the times of the economic instability, like nowadays. While its appreciation slowed compared to the beginning of this year, and it even weakened a little versus some other currencies during the summer, the yen remains very attractive currency for those who desire safety. Will it retain its value or it’s time to sell the currency while it’s still highly priced? The answer is hugely depends on the risk sentiment of the traders, which can be easily changed by any economic news.

The Japanese yen rose today against most other major currencies on the speculation that the slowdown of the global economic growth will increase demand for the Japanese currency as the safe haven.

The Japanese yen rose today as the renewed concerns that the recovery of the global economy is losing the traction fueled the demand for the safer assets.

The Japanese yen dropped today as the rally of the global equities damped the demand for the safer currencies and on the anticipation of the intervention by the central bank.

The Japanese yen weakened today against the US dollar and the Great Britain pound and traded near the opening level versus the euro as the traders consider the possibility of the intervention by the Bank of Japan in order to curb the currency’s gains.

The Japanese yen slipped today against most other major currencies after the central bank’s official said that they would closely monitor the currency’s movement, leading to the speculations that the central bank would limit the yen’s gains.