XE Market Analysis: North America – Dec 06, 2017

The yen rallied on a safe haven, while the Australian dollar and pound underperformed on the respective influences of sub-forecast Australian growth data and rekindling Brexit-related angst. Stock markets in Asia and Europe were a sea of red today. A miss in Australian Q3 GDP, softer 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).