The Japanese yen was rising today as Forex market participants felt need for safety. Yet the currency was not able to rally for long and currently is struggling to keep gains, trading close to the opening level against some of its most-traded counterparts.
Political turmoil in such countries as Thailand, Ukraine and Venezuela made the trading environment not particularly suitable for risky investments, increasing demand for safer assets. The worse-than-expected manufacturing data from China added to traders’ concerns. The yen profited from the risk-aversion sentiment, but has hard times maintaining the rally.
USD/JPY traded at 102.24 as of 14:17 GMT today after falling from 102.31 to 101.66 earlier. EUR/JPY was near 140.27 following the drop from 140.49 to 139.19.
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