Yen Gains On Risk Fears

The Yen strengthened on Friday amidst fears of the impact of a new global wave of travel bans due to the Covid-19 Omicron variant. As a traditional safe haven for investors, the Yen has gained some ground causing the Dollar-Yen (USDJPY) to fall by almost 2% on Friday. In the upcoming days, this pair’s movement will most likely be governed by news with regards to the new variant.