The Japanese yen on Tuesday pushed ahead on Tuesday against the U.S. dollar and the common currency of the European Union, marking a second-straight day of gains against both of its rivals, Bloomberg reports.
The currency of the Pacific Rim nation pushed ahead at least 0.2 percent against all of its major rivals, largely benefiting from ongoing strife in Syria. The Japanese yen rose against the world's reserve currency 0.6 percent, building on gains of 0.2 percent during the Monday trade session.
"The (Syria) uncertainty is causing the market to turn risk-off," senior global market analyst Satoshi Okagawa with Sumitomo Mitsui Banking Corporation in Singapore told Reuters on Tuesday.
The Middle Eastern nation, which has been trying to quash anti-government uprisings that began in March 2011, is likely to be on the receiving end of international military action as a consequence of deploying chemical action against its own people in a suburb of Damascus earlier this month, according to Reuters.
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