Dollar lives up against Yen

Yesterday, the Japanese Yen slithered against the dollar and the Euro after two weeks gap. When any currency is sliding, investors are following a new tactic. They are selling the low-yielding currencies to buy high-yielding assets. And Japan is no exception now. The investors in Japan are using the yen to buy high-yielding assets. The yen was down 0.4 per cent against the dollar and 0.8 per cent against the Euro.

Though dollar lived up against yen, but it is still continuing to be a major issue to talk about in and out of the U.S currency market. The senior Forex strategist at Royal Bank of Scotland said that the U.S currency market is now shakier than earlier.

The oil producing countries also are reducing their oil holdings with the U.S currency market due to its slithering position. At present, the traders who are bearing U.S currency are unlikely to get enough encouragement because U.S dollar may likely continue its downfall for some more days.