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Yen Returns To Be a Safe Haven Currency

ByFirst Binary Option Service
Published 06/25/2013, 06:14 AM
Updated 03/09/2019, 08:30 AM

The Japanese Yen rose against the Dollar and other major currencies after a series of declines by the Japanese currency during the last period, due to the large amount of investors buying the Japanese Yen. In light of this new tendency, Yen has been seen to return back to the scene to be a safe haven currency.

Now, the attention of financial markets have been drawn to liquidity crisis in the Chinese financial system, a crisis which is not born of the moment. Previously, markets were so interested in the federal expectations, which led investors thought that the most important at this time.

The current crisis in China's financial system is resulted from the decline in supply of liquidity, without direct interference from the Chinese Central Bank, which led to higher lending rates between commercial banks. Indeed, that was more than enough to prompt the global financial markets to expect that the Chinese economy is on its way to decline. Consequently, this affects so greatly on the performance of stock markets around the world.

Pair Dollar / Yen fell for the second day in a row, the lowest level at 97.26, after the high record of 98.05, while the euro fell against the Yen to reach 127.58 level. The pair is currently trading at the 127.79 level.

As for the Aussie, it has returned to decline today after a slight improvement in his performance yesterday to score the pair of Australian Dollar / USD low level of 0.9195 after opening the session today at the 0.9274 level.

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