The yen jumped to a six-month high

The yen jumped to a six-month high

Jim Anderson - Public Relations

During today’s Asian trading, the yen against the US dollar reached its highest level over the past six months, while the yield on 10-year US government bonds updated its historic low.

Investors prefer to transfer funds to safe assets, which traditionally include government securities and the Japanese national currency amid uncertainty regarding the development of the situation with coronavirus and its impact on the global economy, experts say.

The Japanese national currency rises in price relative to all 10 major world currencies. The yield on ten-year US Treasuries fell to 0.83%.

Goldman Sachs analysts believe that in the event of global panic in the markets due to COVID-19, the dollar could drop to 95 yen – the level that was last recorded in 2013. According to them, the Japanese currency remains “one of the few classic assets of the safe haven, which remains underestimated”, Bloomberg reports.

The value of the single European currency is paired with the Japanese national currency at the same time amounted to 118.92 yen, compared with 119.30 yen on Thursday. So dollar to 9:06 Moscow time gave 105.84 yen against 106.16 yen.