Yen Climbs After Another Earthquake, Rates Stays Unchanged

The Japanese yen rose today on the speculation that demand from investors will shift to safe currencies from higher-yielding ones after Japan was hit by another earthquake.

Today Japan experienced yet another earthquake. The 7.1-magnitude tremor is the strongest since the earthquake on March 11 and caused the tsunami warning. Tokyo Electric Power Co. reported that the new earthquake hasn’t influenced the Fukushima nuclear power plant that was damaged by the previous earthquake. Still, this quake can switch mood among investors to risk aversion mode.