ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Forex

Japan Post's asset buying keeping yen weak amid geopolitical risks

TOKYO -- Even as the conflicts in Iraq and Ukraine drive investors to put money in safe-haven assets, the Japanese currency is staying relatively weak, weighed down by yen-selling by the banking and insurance units of government-backed Japan Post Group.

     The yen briefly dipped to 103.34 yen to the dollar on the Tokyo market Wednesday, its softest showing in four and a half months. The decline could not be attributed to any particular development, leading a foreign bank dealer to conclude that "the invisible hands" were at work, referring to volume selling that happens whenever the currency strengthens.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more