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Safe-haven yen, Swiss franc dip as risk sentiment recovers


Monday, 3 February 2020 16:18 WIB

CurrencySafe Haven YenSwissFranc


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The safe-haven yen and Swiss franc weakened on Monday, retreating from multi-week highs against the dollar as fears surrounding the spread of coronavirus in China appeared to ebb for now.

Chinese markets took a beating in the first trading session after an extended Lunar New Year break.

The yen fell a fifth of a percent to 108.52 per dollar off a three-week high of 108.305 set on Friday.

The Swiss franc changed hands at 0.96395 franc per dollar off more than two-week lows.

The Australian dollar fetched $0.66945 up 0.15% on the day but holding near a 10-1/2-year low of $0.6670 touched last October.

The currency is often regarded as a proxy for the yuan, being more freely traded and because of Australia's reliance on trade with China.

The euro stood at $1.1073 , down 0.2% on the day, while sterling tumbled 0.6% to $1.3126.

Source : Reuters


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