The Yen fell for the first time in six days against the EUR on optimism regarding Dubai World debt issues. The safe haven Yen also remained up against the Dollar, despite the cautious move back to riskier assets.
The move to safety followed the news of a payment freeze on the $60 billion debt of Dubai World. The Yen traded at 86.44 per Dollar from 86.41. The Yen was at 129.77 per EUR from 129.64. The Yen seems to be able to hold on to the gains it makes during flights to safety by investors during days of poor financial sentiment.