Written by John Kicklighter, Currency Strategist
What defines a safe haven currency? This is a questions that has been sidestepped many times by financial participants in the past. Back when conditions were optimal, there was little doubt that US Treasuries, gold and the Japanese yen were key harbors for rough financial weather. However, with an economic recession evolving into a depression and a financial crisis testing the limits of government reserves, anything and everything is being reevaluated. And, for a fundamentally-unstable and crisis-prone financial center like Japan, there may be a good reason for cutting its currency from the list.
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