Japanese yen is pulling back in forex trading today, heading lower as risk appetite improves. Yen is lower against other majors today as optimism about the global economy, as well as improvement in Europe, boosts high beta currencies.
US dollar, after showing some strength in earlier trading, has moved lower since Ben Bernanke‘s remarks. Bernanke’s remarks on the US economy have raised doubts about the strength of the recovery, as well as provided clues that a loose monetary policy may not be over with.
Sterling is rising against the greenback as risk appetite makes an appearance, and gaining against the Aussie as the news about China continues to weigh on the Down Under currency.
US dollar is weakening today as risk appetite makes a cautious appearance in the markets. Yesterday, greenback was higher, and gold prices reached a low not seen for 10 weeks. Today equities are still struggling, but higher gold is helping the euro against the US dollar.
Euro is struggling today, once again lower as forex traders consider the state of the eurozone economy. Additionally, general risk aversion is also weighing on the euro as economic jitters set in and forex traders look for safe haven.
Concerns about the economies of different regions are weighing on riskier assets today. Indeed, risk aversion is on the rise again, and that means Forex traders are looking for safe haven. The result is a higher dollar.
Canadian dollar is softening against the US dollar today, after seeing some earlier gains. Now, though, risk aversion is returning to the financial markets, and loonie is heading lower.
As the government prepares to share its new budget, it’s clear that there isn’t going to be much room for stimulus. The news has the sterling heading lower against the euro and the US dollar today.
Euro is dropping today, losing ground as risk aversion sets in on the latest evidence that China’s economy might be slowing. After seeing four days of gains against the US dollar, the 17-nation currency is fell behind, but is now moving higher again.
Risk aversion is dominating markets right now, but that isn’t keeping the yen from heading lower today. Instead of getting a boost as a safe haven currency, the Japanese yen remains lower against other majors this morning.
