Published by Jamie JemmesonThe yen rose to an eight-month high against the dollar in global forex trading this morning (August 4th) as investors sought safe assets.According to Bloomberg data, the Japanese currency rose against all 16 of its major counterparts in trading this morning, ahead of US economic data expected to show slower growth in the services industry and a rise in unemployment.Toshihiko Sakai, head of trading for currencies and financial products at Mitsubishi UFJ Trust & Banking Corp, a unit of Japan's largest financial group by market value, commented: "Worries over the durability of recoveries in the US and some other parts of the world seem to be lingering. The bias is for the yen to be bought."US non-farm employment data will be released later today, alongside the latest non-manufacturing purchasing managers' index, while full unemployment data will be released tomorrow.The latest crude inventory report will also be scrutinised later by both forex and commodities traders for evidence of whether this week's dollar-led price rise is supported by strengthening demand.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site