Safe Havens Soar as European Crisis, U.S. Downgrade Stoke Risk-Aversion

The Japanese Yen, Swiss Franc and even the U.S. Dollar were lifted by significant demand in the Asian and European sessions as market participants fled higher yielding assets in return for safety following a tumultuous weekend in which Standard & Poor’s downgraded U.S. government debt and the European sovereign debt crisis inched closer towards reaching its breaking point.

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