The Japanese yen also continues to benefit from investors who are liquidating their highly leveraged positions. The currency is closely correlated with risk-aversion in investors, making it the ultimate safe-haven currency, report William L. Watts and Nick Godt for MarketWatch.
CurrencyShares Japanese Yen (FXY) is up 9.4% year-to-date.
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.