Yen appreciates fears of Syria, Korea and France vow, to a maximum of EUR 4 months
The yen appreciated against major currencies, touching against the euro maximum of four months to 116.98 and extending the gains also against the dollar, supported by the demand for goods-retreat triggered by geopolitical tensions in Syria and Korea North mostly.
** In European morning trade, the Japanese currency salt 0.2% against the euro and 0.3% against the greenback.
** “The dollar’s rally last week may have been a bit ‘overdone in light of current political risks”, he explains from Frankfurt Thu Lan Nguyen, currency analyst at Commerzbank.
** China and South Korea agreed yesterday to impose tougher sanctions on North Korea in case of new missile tests, as reported by a senior Seoul official.
** “The market has become more cautious on US policies and is more attentive to the risks,” says Harumi Taguchi, His Markit economist in Tokyo.
** To add to the climate of risk aversion also much uncertainty in terms of the French elections, in which the left-wing candidate Jean Luc Melenchon is increasing its consensus.
** According to surveys, the National Front candidate Marine Le Pen and outsider Emmanuel Macron will go head to head in the first round on 23 April while Macron should win the run-off on May 7.
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