The Japanese yen has been exceptionally strong during today’s session, particularly against higher yielding currencies like the New Zealand dollar. Indeed, the rapid deterioration of the global financial system has prompted many investors to exit the so called carry trades and with the world economy slowing down is reasonable to think that the demand for high yielding currencies with poor fundamentals will also begin to dry up.
NZDJPY 62.853 |||||||||||||||||||||||||||||||||||||-9.74%
AUDJPY 71.639 |||||||||||||||||||||||||||||||||||||-12.08%
EURJPY 136.337 ||||||||||||||||||||||||-6.03%
GBPJPY 175.347 ||||||||||||||||||||||||-6.00%
CADJPY 91.510 |||||||||||||||||||||||-5.91%
CHFJPY 88.316 |||||||||||||||||||||-5.28%
USDJPY 100.771 |||||||||||||||||-4.31%