Weak activity on the stock market morning led to an increase of cross-yen and decline in dollar / yen, although the increased risk of flight from the U.S. currency strengthened against the euro and other currencies. According to analysts of United Overseas Bank, the cross-rates with the yen weakened against the background of the restoration of acceptable risk, following the mood in the securities market. A little earlier the dollar / yen made an attempt to grow, reaching a maximum Y99.14 against the backdrop of rumors of a fixed position on the bid in Tokyo, followed the fall of the euro / yen with a maximum Y131.51. Dollar / yen broke yesterday least Y98.74 and burst triggered a series of foot, at Y98.70, which then dropped a pair to a minimum around Y98.42, while the cross-rate fell to Y130.25. Traders called the various reasons for downgrade, including the demand for yen, associated with the activity of investment funds and the strengthening of foreign currencies with higher risk due to falling stock prices. UBS analysts believe that the yen benefited from a bit of sales in high-risk, but the U.S., in their view, still remains the preferred currency of refuge.
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