The Japanese Yen continues to rise on the forex market versus the U.S. Dollar.As a matter of fact, the Japanese Yen touched its highest level of trade in 14 years.The Yen traded at 84.82 Yen on the forex market and this is the highest level attained since 1995.Then the Yen went back to 86.05 Yen which is equivalent to a rise of .6% on the day on the forex market. It was speculated that the Bank of Japan with officials from the government were asking about Dollar/Yen rates with some commercial banks.This will incite forex traders to buy Japanese forex currency.
The Japanese forex currency also increased in a significant way against high-yielding forex currencies especially after the publication of Dubai’s debt worries. It was released that two major corporations wanted to delay the repayment of their debt. The Middle East region,previously seen as a source of investment opportunities, is now a very risky place to invest. This led to the conversion of the funds in favor of the Japanese Yen to the detriment of other forex currencies even with better or higher yields, including the Australian Dollar, which declined to 77.88 Yen (which is equivalengt to a loss of 1.6% ) , and the Euro, which fell to 126.95 Yen (which is equivalent to a decline of 1.3%) on the forex markets.
