27th February 2014
The yen has strengthened in forex trading markets today (February 27th), with demand for the safe-haven asset boosted amid heightened tensions in Ukraine.
According to the Interfax news agency, Russian president Vladimir Putin yesterday ordered 150,000 troops to engage in drills in the country's central and western military districts, some of which border Ukraine.
In addition, there have been reports the nation has ordered fighter jets to be on combat alert.
NATO secretary general Anders Fogh Rasmussen yesterday stated a "sovereign, independent and stable Ukraine" is key to Euro-Atlantic security.
Because Japan does not rely on foreign capital to plug its budget deficits, its currency is considered to be a reliable store of value and generally tends to strengthen during times of political or economic uncertainty.
In early trading, the yen advanced against both the euro and the US dollar, strengthening by 0.81 per cent and 0.55 per cent respectively as of 10:50 GMT.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.