The Japanese Yen Is Making A Huge Comeback

The currency markets are going bananas today.

Overnight, the big story was that Japan was reportedly sending an uber-dove to head the Bank of Japan.  The yen immediately got slammed when the foreign exchange markets opened.

But since then, the yen slowly and then quickly came back.

The other big currency move of the day has been the euro, which totally tanked against the dollar and the yen.  The sell-off comes amid an Italian election that is proving to be much closer than what anyone hoped for.

Here’s an intraday look at the US dollar versus the yen via FinViz:

japanese yen

Photo: FinViz

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