Korean tensions and unexpected boost in the direction of risk aversion provided the yen rise in the past 24 hours. USD / JPY pair dropped closer to 82 this morning, the pair EUR / JPY is rapidly approaching 110, which is a two-month lows, and a pair of KRW / JPY dropped to 3% in just the last couple of days. The situation is a concern of Tokyo as the yen ahead of other traditional quiet haven currency yesterday. Indeed, the pair CHF / JPY has fallen by more than 1%, while the risks for the Swiss franc is increasingly growing, if the European economy will be weakened by the recent debt crisis. There have been reports of buying securities USD / JPY outside of Asia, which probably should have been to prevent the further strengthening of the yen.
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