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Excerpt from:  GFT News
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December 31, 2008

Japanese Yen Big Winner in 2008

Yen up over the year in currency trading
The Japanese yen represents the biggest winner in 2008 in currency trading on the FX market. It had the most dramatic appreciations of all the major currencies -- including the biggest gain against the U.S. dollar in forex trading in two decades.

The Japanese government is not terribly thrilled by the appreciation of the yen, since an appreciating currency eliminates export advantages.

As a result of the risk aversion due to the global economic crisis and recession, the carry trade has been unwinding, spurring the Japanese yen higher in currency trading. Additionally, the relatively stable yen has been viewed as a safe haven in forex trading.
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PermalinkJapanese Yen in Forex Trading
.Currency trading on the FX market
.http://www.gftforex.com/land/index.asp?aid=446
Topic Tags:  currency trading, currency trading FX market, forex trading, FX market, global economic crisis, Japanese yen, recession, U.S. dollar
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