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JPY Daily News
The Yen Rises across the Board
Thursday, 20 May 2010
The Yen climbed against 15 of its 16 most-traded counterparts as results of an investigation into the sinking of a South Korean naval ship prompted demand for Japan's currency as a refuge. The Japanese yen stayed higher versus the greenback, reclaiming its stake as the currency of choice when investors want to be as far away as possible from risky currencies and positions.
The JPY also jumped as much as 3.5% against the Australian dollar; a pair often looked at as an indication of risk aversion.
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