US FX Handover: Yen Rallies in Risk-Off Trade

Matt Weller
By :  ,  Head of Market Research

  • US stock indices sold off sharply on US-China “trade war” worries - Chinese Premier Liu He will join China’s delegation for high stakes trade negotiations in Washington DC on Thursday.
  • The safe haven yen was the strongest major currency, taking USD/JPY to its lowest level since March near 110.20. The Aussie also fell after the RBA opted not to cut interest rates.
  • The loonie was the weakest major currency on the back of weakness in oil, with sterling also falling cross-party Brexit talks stall.
  • The RBNZ meets tonight, with OIS markets pricing in a 40% chance of a rate cut – see our full preview.

Related tags: Forex

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar