The dollar hit a low of 75.94 yen on Friday, but managed to rebound to 76.55 yen later in trading. Japan had staged an intervention of 4.6 trillion yen on Aug.4 to bring the currency lower. The fears of Europe’s sovereign debt crisis are still an issue and the credit downgrade of the U.S. has caused discomfort in the markets, causing investors to find safety in the yen. [Japanese Yen ETF Shakes Off Intervention]
CurrencyShares Japanese Yen Trust
Tisha Guerrero contributed to this article.
Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.