The Japanese yen gained today as investors are concerned over the impact of the European sovereign-debt crisis. This has increased the appeal of the safe haven currencies like the JPY. Concerns over the EU fiscal crisis were re-triggered after Fitch ratings stated the UK economy to be formidable. Despite persistent efforts by European leaders to curb the situation, investors are largely unconvinced, driving them to the safe havens. USD/JPY traded at 91.43 at about 11:02 GMT today, a fall from the opening rate of 91.46. EUR/JPY traded at 109.50.
