Japanese yen rise as Asia stocks plunge

The Japanese yen inched higher against the dollar today in light of the Asian stocks drop in general, and the Japanese in specific.

The yen benefited from the decline in Asian stock markets, especially Japan, which fell remarkably in today’s trading session amid continued profit taking.

Today`s profit taking came in light of the stocks rising dramatically following the Japanese pension fund announcing a plan to invest in stock markets.

The debate about the appropriate timing of the Federal Reserve`s decision to raise interest rates also weighed on the Japanese yen against the dollar.