The Japanese Yen gained today, dousing its previous losses against the Euro. Safe havens assets, including the JPY, had a higher impulse in the market, buoyed by a higher sell-off in the European markets. This is indicative of a faltering economy, lowering the general investor risk appetite.
EUR/JPY lost over 130 pips, after previously reaching an intra-day high of 113.35. The pair, subsequently, tumbled to a fresh daily low at 111.95. At the time of writing, the pair is trading around the intraday low. This has enabled the Japanese currency to gain by 0.18%.
