XE Market Analysis: Europe – Mar 25, 2019

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USD-JPY printed a six-week low at 109.70, ratcheting up a week-on-week decline of 1.3%. Sharp equity market losses across bourses in Asia have maintained demand for safe havens, including the Japanese currency. AUD-JPY also posted a six-week low, while EUR-JPY remain heavy, although has so far remained above the two-month low the cross saw late on Friday. The dollar bloc currencies came under some pressure; AUD-USD posted a six-day low at 0.7065 while USD-CAD scaled to a two-week high. EUR-USD, meanwhile, has remained relatively steady, tightly orbiting the 1.1300 level.