Home›Forex›Major Pairs›Yen struggles as safe-haven status fades, Commerzbank…

Yen struggles as safe-haven status fades, Commerzbank says

Commerzbank points to rising concerns over Japan’s debt and Bank of Japan rate hikes as factors weakening the yen’s crisis appeal.

Reported · Written up by our desk · Major Pairs

Commerzbank analysts Michael Pfister and Volkmar Baur said the Japanese yen is losing some of its traditional safe-haven appeal, even as markets show risk-off conditions, according to FXStreet.

They cited rising concerns about Japan’s debt and the Bank of Japan’s rate hikes as developments that could be eroding the currency’s crisis response.

FXStreet also noted that USD/JPY is struggling to find fresh momentum near 158.00 in the Asian session, moving away from the top end of its weekly range.

In the same market snapshot, FXStreet reported that the US dollar retreated from 17-month highs as traders took profits ahead of the US Nonfarm Payrolls report.

Latest closeUSD/JPY 157.40 ▲0.0%

More like this

Sources