Market News
Japanese yen's safe-haven illusion shatters - REUTERS
ORLANDO, Florida, Nov 19 (Reuters) - Conditions are ripe for a strong rally in the 'safe haven' Japanese yen, with a global stock market selloff sparking volatility across asset classes. But the Japanese currency is falling fast, calling into question its long-perceived role as a preferred hiding spot for spooked investors.
The yen this week has tumbled to a 10-month low against the dollar and the weakest level ever against the euro. It has been, by far, the worst-performing G10 currency in recent months, raising the prospect of Japanese authorities intervening to lend it some support.
