empty
 
 

2014.08.1502:51:45UTC+00Japanese yen heads to weekly drops as haven demand lowers

The Japanese yen tumbled against all but one of its 31 major counterparts this week as easing geopolitical upheavals in Ukraine and Iraq dwindled demand for haven assets.

The yen erased 0.1% to ¥102.50 per dollar at 12:55 p.m. in Tokyo, dropping 0.5% this week. It reached ¥136.99 per euro from ¥136.92 yesterday. The currency slipped 0.1% since August 8. The euro traded at $1.3363 after sliding to $1.3333 on Aug. 6, the lowest since Nov. 8.

“The yen is usually a safe haven, so it generally corresponds to risk appetite. Ukraine’s impact is decreasing over time in the absence of fresh news, and unless you get fresh adverse news, I wouldn’t expect it to weigh on risk appetite further,” said Imre Speizer, Markets Strategist at Westpac Banking Corp.

Russian President Vladimir Putin would meet Finnish President Sauli Niinistoe in the southern town of Sochi today, marking Putin’s first bilateral talks with a European leader since his meeting with German Chancellor Angela Merkel in Brazil in the last World Cup. 

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback