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3 Mar 2014
Yen builds on recent gains post N.Korean headlines
FXStreet (Bali) - The Japanese Yen continues to strengthen in Asia, just minutes before the Tokyo market comes online.
The latest risk-off headline, adding to Ukraine concerns, could read "North Korea fires two missiles into the sea off its east coast", according to Yonhap news agency via Reuters.
The news only add fuel to the fire, and will probably increase the sense of risk aversion in Asia. The Japanese Yen, despite having lost its appeal as a long-lasting 'true safe haven' due to Abenomics, remains nevertheless one of the ultimate risk-off bets for short term protection when panic escalates.
The latest risk-off headline, adding to Ukraine concerns, could read "North Korea fires two missiles into the sea off its east coast", according to Yonhap news agency via Reuters.
The news only add fuel to the fire, and will probably increase the sense of risk aversion in Asia. The Japanese Yen, despite having lost its appeal as a long-lasting 'true safe haven' due to Abenomics, remains nevertheless one of the ultimate risk-off bets for short term protection when panic escalates.