The yen (円 en / ien'e?) (sign: ¥; code: JPY) is the currency of Japan. It is the third most-traded currency in the foreign exchange market after the euro and the United States dollar.[citation needed] It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling. As is common when counting in East Asia, large quantities of yen are often counted in multiples of 10,000 (man, 万) in the same way as values in Western countries are often quoted in thousands.

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Monday, April 6, 2009

Yen Rises as Drop in U.S. Stocks Spurs Demand for Safety Assets


April 7 (Bloomberg) -- The yen gained from five-month lows against the dollar and euro after U.S. stocks ended a four-day rally, spurring speculation that global stocks will slide and boost demand for safer assets.
The Japanese yen rose against both currencies for the first time in almost a week after a Calyon Securities analyst said loan losses at banks will exceed levels from the Great Depression. Australia’s dollar slumped for a third day as traders increased bets that the Reserve Bank of Australia will reduce its key interest rate from the lowest level in 45 years.
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