Excerpt from: Forex News
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| June 02, 2010 | | Currency trading with the Japanese yen | The Japanese yen has taken a dive today in forex trading, with its safe haven status all but in tatters as Prime Minister Yukio Hatoyama resigns in Japan. Hatoyama has only been PM for less than a year -- and is the fourth prime minister in four years.
Not only did Hatoyama step down, but his number two also resigned. With economic weakness continuing to wrack the Japanese economy, and citizens unhappy with the policies of the ruling party, these moves are becoming increasingly frequent.
However, the Japanese yen has been paying the price in forex trading. Once prized as a safe haven investment, the yen was considered a stable place to park your money for capital preservation. Now, though, with all of this turmoil, the yen is quickly losing its attractiveness as a safe haven.
| Topic Tags: currency trading, forex trading, Hatoyama, Japanese yen, safe haven | |
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