On Thursday, October 25, the Japanese currency rises in price against the US in connection with sales in global stock markets. According to experts, this situation contributes to the growth in demand for more reliable assets, to which market participants refer to the yen.
The rate of the American currency in relation to the Japanese fell to 112.09 yen per 1 US dollar. The rate of the European currency against the US dollar rose to $ 1.1408 for 1 euro. The US dollar index, the US dollar against a basket of currencies of six countries, America's key trading partners, fell by 0.15% to 96.29 points.
The increase in demand for more reliable assets, to which the yen belongs, was recorded after a significant drop in US stock exchanges by 2.4-4.4%. The reason for this, experts believe the weak statistics on the US labor market. Behind them, the Asian markets fell by 1-3%. Currently, global stock markets tend to normalize the situation, but to achieve a balance is quite difficult, analysts say.
The material has been provided by InstaForex Company - www.instaforex.com