A move toward safe havens and away from perceived riskier currencies Friday has not seen much support for the yen Friday. The "two premier risk-off currencies are the yen and dollar," says Steven Englander of Citigroup. But the yen is in an adjustment period right now because of its own domestic issues, Englander says. That means the dollar will be the primary safe-haven currency for now, though the yen will eventually return to its historical place in the market, Englander says. For now, the dollar is the king of the risk-off flow as evidenced by it moving higher Friday against the yen. The dollar is at Y81.27 from Y81.17 late Thursday, according to EBS via CQG.
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