The euro today rallied against the US dollar amid heightened trade tensions between the US and China, which triggered a global stock market sell-off. The EUR/USD currency pair rallied higher as investors sold the greenback and bought the single currency given the significant risks facing the United States.
The euro today traded in a see-saw pattern against the US dollar marked by extreme rallies and declines to culminate in a sustained drop during the American session. The EUR/USD currency pair today fell as the US dollar rallied and investor sentiment shifted in favor of safe haven assets such as the greenback even as US equity markets edged higher.
The Japanese yen continued to rise today, gaining for the sixth consecutive trading session. The currency continued to get support from risk aversion on markets, which made investors stick with safer assets.
The Japanese yen rose today, extending its gains for the third consecutive trading session. The main reason for the rally was the negative market sentiment, which made investors seek safer options to park their funds.
The Japanese yen rallied intraday amid risk aversion caused by sell-off of Asian stocks. But the currency retreated later after most of European and US equities logged big gains.
The US dollar was generally weak today as risk appetite made investors seek riskier currencies with higher yield. For the same reason the greenback gained on safe currencies, like the Japanese yen and the Swiss franc.
The Swiss franc climbed today, joining the Japanese yen in a rally, as risk aversion returned to markets. That brought safe currencies back in favor of market participants.
The stock market crashed this week and the US dollar followed. While the greenback recovered somewhat by the weekend, the US currency ended the week among losers.
The Australian dollar was mixed today, trading basically flat against its US counterpart, rising against the euro, but falling versus the Japanese yen. Fundamentals, which were mixed themselves, did not help the currency to find a direction.
The Australian dollar rallied intraday during the current trading session but failed to maintain gains and is trading near the opening level now.
