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Yen Gains against Dollar as Safe Haven Demand Revives


Wednesday, 3 July 2019 16:01 WIB

Indeks Dolar Yen


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The U.S. dollar was hovering near two-week highs against a currency basket on Wednesday as renewed concerns over trade tensions and slowing global growth weighed on investor confidence, bolstering demand for the Japanese yen.

The U.S. dollar index against a basket of six major currencies was at 96.38 by 03:12 AM ET (07:12 GMT), not far from the highs of 96.45 scaled on Tuesday, the most since June 20.

The greenback was weaker against the safe haven yen, down 0.2% at 107.66, having been nudged off a 12-day high of 108.53 scaled at the start of the week.

The euro was a touch lower at 1.1270 following a volatile session on Tuesday, when it swung between a low of 1.1275 and a high of 1.1322.

The British pound was also weaker against the U.S. currency, down 0.23% to 1.2562.

The Australian dollar was flat at 0.6988 after gaining about 0.4% the previous day. The Aussie had gained after the Reserve Bank of Australian cut interest rates but offered a more balanced outlook.

Source: Investing


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