XE Market Analysis: Europe – Oct 23, 2018

Both the Dollar and Yen have outperformed amid a risk-off backdrop, with the Japanese currency itself outperforming its U.S. counterpart on safe haven demand, which has pushed USD-JPY lower despite gains in the greenback against most other currencies. USD-JPY has dipped to an intraday low of 112.41 after closing in New York yesterday at 112.79-80. EUR-JPY has lost over 0.5% while the biggest mover out of the Dollar pairings and associated cross rates we track has been AUD-JPY, which has shed 0.7%.