Yen Jumps on Fears of Radiation Leak from Nuclear Plant

The Japanese yen gained today as the Japanese investors are expected to bring their overseas assets back to Japan on the concern about the radiation leak from the nuclear plant.

Fukushima Dai- Ichi plant of Tokyo Electric Power Company was damaged last week by the earthquake and the subsequent tsunami. Prime Minister Naoto Kan spoke on television, urging to stay calm and saying that the government doing everything possible to prevent the radiation leak from spreading.

USD/JPY fell from 81.67 to 81.33 today as of 11:30 GMT, following the rise to 82.01, while EUR/JPY slumped from 114.25 to 112.94.