Yen Gains Broadly on Risk Aversion

  @ibtimes on

The Yen rose to a 9 month high versus the EUR as President Obama's proposal to restrict risk trading at financial institutions discouraged demand for higher yielding assets. The Japanese currency was set for a second straight weekly gain versus the EUR and advance to a 3 week high against the Dollar on declines in global equities and concerns over Chinese growth.

The Yen advanced to 126.89 per EUR from 127.37 in New York yesterday. The Japanese currency reached 126.56, the strongest level since April 28. It gained to 89.93 per dollar from 90.43 yesterday after reaching 89.87, the highest level since Dec. 18.

Join the Discussion
Nintendo's Newest Kirby Game Is A Total Detour
Nintendo's Newest Kirby Game Is A Total Detour
Fitbit's First Activity Watch Falls Short
Fitbit's First Activity Watch Falls Short
Dying Light Is The Spiritual Successor To 'Dead Island'
Dying Light Is The Spiritual Successor To 'Dead Island'
The Last Mitsubishi Evolution
The Last Mitsubishi Evolution
The i8 Is Proof BMW Should Make More Mid-Engined Cars
The i8 Is Proof BMW Should Make More Mid-Engined Cars
QD Vision Shows Off Cheap 4K TVs
QD Vision Shows Off Cheap 4K TVs

More Video