USD/JPY at 101.30 on Geopolitical Worries

The euro and the dollar gained ground against the yen on Friday, recovering from a surge of money into the traditional security of the Japanese currency a day earlier due to worries over Ukraine.

The yen hit a five-month high versus the euro in Asian time as investors worried that the shooting down of a Malaysian airliner would stoke tensions between Russia and the West, potentially leading to heavier economic sanctions.

The yen had handed back some of those gains as European trading began, down around 0.2 percent against both the euro and the dollar compared to Thursday’s U.S. closing levels.


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