The Japanese yen was mixed today despite the relatively negative sentiment amid investors. Usually, the yen rallied amid risk aversion due to its status as a safe haven. But today, the currency was struggling to rise. Some analysts explained that by the rally of the stock market. Domestic economic indicators were not favorable to the currency of Japan either.
The Great Britain pound demonstrated a decent performance during Wednesday’s trading session, even though it was not among the strongest currencies on the Forex market. The sterling got support from the strong rebound of the UK service industry as well as a rally of British stocks.
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.
