Latest news on Yen Continues to Climb in Forex Trading
| Japanese yen rises in currency tradingThe yen is doing well in forex trading on the currency market this morning, as risk aversion sets in. The carry trade is becoming more difficult to maintain, and FX traders are opting to unwind. With oil prices up yet again, and with the stock markets uncertain, risk appetite is low as investors seek safer places to invest their money. This means that the Japanese yen is at an advantage right now in currency trading. Another item that has been helping is the upgrade that Japan received to its local currecy debt rating. Bloomberg reports on this development for the yen in forex trading: ``The upgrade has given a bullish tone to the yen,'' said Antje Praefcke, a Frankfurt-based currency strategist at Commerzbank AG, Germany's second-biggest lender. ``The yen's gaining on increased risk aversion.'' The Japanese currency may advance to 158 per euro and 104 versus the dollar in the third quarter, Praefcke said. See Also
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