News » Japanese Yen Continues to Gain in Forex Trading

Japanese yen continues to gain in Forex trading. Indeed, yen closed out 2011 at highs not seen for years — and not seen for a decade in the case of the euro. Japanese yen is in demand as continued global uncertainty sends traders looking for safe haven.
 
Indeed, even with the problems faced by Japan in 2011, including a massive earthquake and tsunami, the yen remained strong. Japanese financial leaders intervened in the Forex market multiple times, attempting to weaken the currency, especially as it gained against the US dollar.

Financial minister Jun Azumi has spent plenty of time warning that Japan will do what it takes to keep the yen weak, and that resolve might be tested in the coming year as traders look for ways to protect their capital in uncertain times.
 
The year ahead will certainly be interesting. If the global economy, led by the United States and (in the developing world) China, begins to recover, and if Europe can sort out its problems, the yen might see some weakness later on. But, for now, the yen is in demand as safety is at a premium.