JPY Bounces Back After Yesterdays Losses

24 November 2009 @ 04:45 am EDT

The Japanese stock market took heavy losses in trading Tuesday, leading to impressive gains for the Yen a day after it sunk amid a global stock rally. Against the Euro, the yen moved from 133.22 to 132.77, signaling that the currency is rebounding from its previous losses. With the Nikkei 225 Stock Average falling for the fifth day straight due to concerns of deflation, investors seemed to be turning back to the yen as a safe haven currency.

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