Yen Rises as Evidence of Slowdown Deters Demand for Higher-Yielding Assets @ Forex Factory

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Yen Rises as Evidence of Slowdown Deters Demand for Higher-Yielding Assets

The yen advanced against most of its major counterparts as evidence of a global economic slowdown deterred demand for higher-yielding assets. Australia’s dollar slid against the yen and dollar as the nation’s consumer prices increased in the second quarter less than economists forecast, encouraging the central bank to keep interest rates unchanged. The euro erased its gain versus the yen after touching a two-month high before a U.S. report on durable goods as European stocks lost their gains. Full Story

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