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So-called safe haven assets, like gold and the Japanese yen, also rose on the news.
The Japanese Yen is the national currency for the nation of Japan, which has the third largest national economy in terms of Nominal GDP. Japan is a unique. USD/JPY is the forex ticker that shows the value of the US Dollar against the Japanese Yen. It tells traders how many Yen are needed to buy a US Dollar.
The Wall Street Journal has been looking at what went on in the currency markets overnight, when the Japanese yen surged against major currencies. Amid anxiety about global growth, the yen is soaring. The currency is racing higher as investors look for safe places for their money. Apple's warning about revenues - in which it blamed China for slowing sales - prompted the move as it raised fears about global growth.
The yen was at a ten year high against the Australian dollar and roaring against the US dollar which fell 4. The move was likely exacerbated by a new year holiday in Japan. Gold is not alone in benefiting from investors turning their back on riskier investments.
Silver has touched its highest level since August while the Japanese yen is also on an upward path against the dollar.
The dollar is at its lowest level against the yen since June, trading at around But, while the dollar is down against the yen, sterling is not benefiting. The pound is down 0.
The dollar has fallen to a two-week low against the yen on the back of the latest global trade war concerns. As of 31 Mar Japanese Yen JPY. Posted at 1 Apr 1 Apr Getty Images Copyright: Getty Images. Posted at 9 Mar 9 Mar Otherwise, outlook will remain bullish in case of retreat. Initial bias stays on the upside this week for long term channel resistance at In the long term picture, the rise from Price actions from In case of deeper fall, downside should be contained by Up trend from Intraday bias is back on long term channel resistance at Decisive break there will carry larger bullish implications and target Intraday bias stays neutral for the momentum and further rally is expected with On the upside, break of However, on the downside, break of Intraday bias will be turned to the downside for deeper correction.
Outlook is unchanged.
With Intraday bias will be turned to the downside for correction. Intraday bias remains neutral for the moment. Initial bias remains neutral this week first.
Break of Decisive break there will carry larger implications. Empowering the individual traders was, is, and will always be our motto going forward.
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The Balance uses cookies to provide you with a great user experience. Cotton Books 7. The yen and the U. The Japanese Yen is the national currency for the nation of Japan, which has the third largest national economy in terms of Nominal GDP. Start chat. Dollar languishes at two-month low after Biden clinches U.
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