Japanese Yen witnessed during today’s – Tuesday – deals a rise after fluctuations occurred yesterday .After Yen rose yesterday to its highest level during 5 months . It contracts its profits to close on reduction , while it again came to ameliorate toady under the recession of US dollar against main currencies .
The dollar versus Yen pair is dealt currently at a level of 110.58 after it opened the session of today at a level of 110.74 to record its lowest level at 110.52 and it recorded its highest level at 110.83
The rise of Japanese Yen during the transactions of today occurred after yesterday’s fluctuations which witnessed the record of unprecedented levels as a result of increased demand for secure refuge in markets under the reduction of international stock market shares and deterioration of the dollar levels , however it closed the session in reduction after the stability of the market .
The demand came back to increase and to be stable for the Japanese Yen today under the recession for the demand of US dollar again because of the tensions about the future steps of the American administration after it withdrew the project of health care law from congress because of poor support to it to influence the markets with more tensions and cause the increase of demand on Japanese currency as a secure refuge.
On the other hand we find the stability in the monetary policy of the Japanese central bank and continuing the promotion of the economy which help the rise of the Japanese Yen and taking it as a secure refuge by the investors especially after the Japanese bank indicated in its meeting report that the monetary policy will continue to provide facilities for longer time for the purpose of supporting the growth and development / inflation.