Yen, euro rise as markets turn risk averse

London

THE safe-haven yen and the low-yielding euro rose on Tuesday on concerns about China's economy, as investors unwound bets against the two currencies widely used to fund positions in riskier assets.

Speculators and investors had sold low yielding currencies to buy higher yielding ones and shares for better returns, so a worsening outlook for stock markets and the global economy tends to reverse that process.