Printer Friendly

FX Action: USD-JPY has posted a three-week low.

FX Action: USD-JPY has posted a three-week low at 111.97, and EUR-JPY and AUD-JPY have both seen one-month lows. Yen outperformance, although relatively moderate, drove the moves amid a backdrop of plunging stock markets, which has seen the Japanese currency pick up safe haven demand. Wall Street saw its worse day in over eight months yesterday, with the S&P 500 closing with a 3.3% loss, and S&P 500 futures have extended lower by a further 1% in overnight trading with Asian markets hit hard. Japan's Nikkei is down 4.4% heading into the Tokyo close while the Shanghai Composite is off by 4.6% in the first hour of trading after the lunch break.

COPYRIGHT 2018 The Fly
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Fly
Date:Oct 11, 2018
Words:118
Previous Article:Asian Market Wrap:.
Next Article:China's SSE equity index is now down by 5.2%.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters