U.S.-Japan Tug of War Keeps Yen Traders on Their Toes This Month

A tug of war between American and Japanese traders keep the yen watchers busy in this month, according to a pattern which has emerged in daily price moves for the currency several times this month.

On those days, the Japanese yen has shown an inclination to strengthen during U.S. trading hours, as stock market volatility sparks a flurry of haven bets.

The yen has been a haven during the recent sell-off in the U.S. equities-with the S&P index down about 9 percent since the Oct. 2 the dollar-yen is down 1.6 percent.