Japanese Yen Forex Trading Forecast
October 10, 2008
Yen headed for weekly gainThings are looking pretty good for the Japanese yen forex trading forecast. Yesterday, the yen was struggling a bit in currency trading, but that all changed yesterday afternoon as the U.S. stock market plunged and risk aversion became a Big Thing again.
Right now, the yen is headed for a weekly gain in FX trading as investors make safe haven moves. MarketWatch reports on the yen’s new status in currency trading:
"It’s risk aversion," said Haruya Ida, a foreign exchange analyst at Thomson Reuters IFR in Tokyo. "The yen has taken on the cachet of a safe haven currency similar to the Swiss franc in the past simply because the Japanese banking system seems to be a little bit stronger than banking systems abroad."
See Also
- More on Risk Aversion and the Declining Carry Trade
Japanese yen in FX trading - Japanese Yen in Forex Trading
FX trading with world currencies
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