Then, shouldn’t the USD/JPY be going up because the demand is higher?
Why did the USD/JPY go down?
I’m confused. If Japan has intense problems from the corona virus, wouldn’t people in Japan (and everyone else with yens) be selling their JPY and buying USD??
Yen is a safe haven asset regardless of Yen dismal data lately it’s flocked too when there is uncertainty . Just like CHF, metals, and other safe haven assets. Coronavirus is the uncertainty that has strengthened yen. Just even compare yen towards some of the other currencies like GBP, EUR, AUD, CAD and you’ll see it has made gains against them in the last week as well.
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