The Japanese yen on Friday notched its first gains in three days against the common currency of the European Union, advancing to its week-highs, Bloomberg reports.
The yen pushed ahead 0.2 percent against the world's reserve currency on the final trading session of the week and the month of August, after Wednesday and Thursday losses amounted to 1.4 percent. The yen also climbed 0.2 percent against the euro, which pushed it to its highest value since August 20 against the monetary unit.
"Things have settled down compared to the situation we saw before, in which Asian currencies were sold off," a trader with a Japanese bank in Singapore told Reuters on Friday.
The yen was the top-performer of 10 developed-nation monetary units against the greenback this week after marking gains of 1.6 percent, according to Bloomberg. Thus far this year, the Japanese yen has slumped 7.8 percent of its value as the Pacific Rim nation has implemented aggressive monetary stimulus measures.
The yen's climb on Friday also is linked with strong Japanese exporters' end-of-month flows, according to Reuters.
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