The Japanese Yen continues to gain ground against other major currencies, noticeably to the American Dollar, currently trading just above the 105 level, having dropped from highs of 109 at the beginning of the month. This is of course the result of heightened trade tensions between the US and China.
The Japanese currency is seen as a safe haven asset and is traditionally sought-after during times of increased uncertainty. We can therefore see the rise of the Yen as an indication that the markets are taking the threats posed to the future growth of the global economy, by an escalating trading conflict between the two global economic superpowers, very seriously indeed.
