The Japanese yen is rallying in currency trading on the FX market, even as the Shanghai index falls. In forex trading, the Japanese yen often moves inversely to some of the Asian stock indices. Right now the yen is gaining a bit on risk aversion as investors look for safer investments.
In addition to rallying against the U.S. dollar (which is in trouble due to the fact that equities are falling), the Japanese yen is also gaining against the Australian dollar. The yen carry trade is unwinding as China's struggles cause problems for the Aussie in forex trading.
See Also
- Japanese Yen in Currency Trading
Forex trading with world currencies