Yen Rises on US Economic Worries

Growing concern that the global economic recovery is slowing down has sent a wave of jitters into the forex market.  After a healthy bout of rallying over the past few sessions, the US dollar sank on Thursday as investors headed for the refuge of the Japanese yen.

Stock markets also weakened in Australia after a weak lead from Wall Street.  However, most analysts put this down to corrective movements rather than a great deal of anything else.  That said, until elections are over in Oz, investors are likely to remain a bit on the jumpy side.

“Silly season” is well underway in the UK and in Europe, as most people go on their annual summer holiday.  With lower numbers in the office, companies are hoping that there is better economic data to come, which will enhance the ‘back to work’ feel come September.

Explore posts in the same categories: Asian Market, Economy, Finance, Japan

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