The Japanese yen , on Tuesday, December 20, was weaker against its rival currencies, while the euro slipped as investors watched for more details about a deadly attacks in Germany and Turkey.
The U.S. currency USDJPY, +0.82% was trading at ¥117.93, compared with ¥117.09 late Monday in New York.
The euro EURUSD, -0.1346% was buying $1.0388 compared with $1.0399 late Monday, MarketWatch reports.
Many investors during Asian trade had taken a wait-and-see stance given unfolding geopolitical events. Investors typically buy into the safety of the Japanese currency at a time of geopolitical and financial instability.
Currency traders typically move into the yen from the dollar and riskier currencies in times of geopolitical nervousness.
“These developments contributed to market jitters and safety bids for the yen,” said Eric Viloria, currency strategist at Wells Fargo Securities in New York.
Earlier on Monday before the attacks, traders were selling the dollar against the yen on lower U.S. Treasury yields and data that showed Japan’s export performance improved strongly in November.
The yen was up as much as 1.2 percent against the dollar on Monday before subsiding to 117.07 yen, down 0.8 percent on the day. It hit 118.66 yen on Dec. 15, which was its weakest since Feb. 2, according to Reuters data. The Japanese currency moved 1.1 percent higher against the euro at 121.83 yen.
