FXStreet (Edinburgh) – According to lee Hardman, Currency Analyst at BTMU, investors in the safe haven space have preferred the Japanese currency to its other peers.
Key Quotes
“The yen is benefitting in the near-term from more risk-averse trading conditions”.
“In contrast the other traditional safe haven currencies of the US dollar and Swiss franc are not faring as well”.
“The US dollar is continuing to trade more like a growth currency weakening modestly at least initially against the other major currencies as trading conditions have become more risk-averse”.
“The Swiss franc is also weakening falling to its lowest level against the euro since mid-March. The recent easing of Greek default and Grexit concerns is allowing Swiss franc overvaluation to ease”.
(Market News Provided by FXstreet)