14th March 2014
The yen has continued to strengthen against the dollar in forex trading markets today (March 14th), with demand for the currency showing no signs of weakening as investors avoid risk-based assets.
Sentiment has been dampened following reports Russia has launched new military exercises along the border with Ukraine.
Ahead of a planned Crimea referendum on Sunday, US secretary of state John Kerry has vowed the US and Europe will impose serious sanctions on the country if this takes place.
In addition, traders continue to harbour concerns regarding China's economic growth, with data published yesterday showing the country's industrial production increased by less than anticipated in the first two months of the year.
The yen is perceived to be a safe-haven investment during times of political and economic uncertainty because Japan is not reliant on external capital to fund its deficits.
As of 11:10 GMT, dollar was trading 0.31 weaker for the session at 101.52 yen.
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