The yen has rallied amid a risk-off mood in global markets. A miss in Australian Q3 GDP, soft oil prices, tech sector woes, Brexit-related anxieties, and concerns about the lofty valuations of stock markets, have collectively been weighing on global equity markets, in turn pushing up safe havens, such as the Japanese currency and gold (and some say Bitcoin’s run above $1200 is safe-haven driven). USD-JPY has plumbed four-session lows near 112.00, building on the decline from Monday’s peak at 113.06. EUR-JPY and other yen crosses are also down.
Recent News
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