Greenback wobbles vs. yen on heightened risk aversion

Greenback wobbles vs. yen on heightened risk aversion

On Tuesday, the evergreen buck wobbled against the Japanese yen, buckling against its safe-haven Japanese counterpart because a risk-averse mood spread through the broader markets.

This week investor appetite for risk has been dulled by several factors, including an anxious wait for an approaching meeting between Chinese President Xi Jinping and US President Donald Trump as well as a suspected suicide bombing in St. Petersburg, Russia.

The greenback extended its overnight losses and dropped 0.2%, hitting 110.660 yen, having reached 110.480, its lowest value in a week.

Monday's mostly positive American construction spending as well as manufacturing data affirmed a steady improvement in the US economy, though did little to uphold Treasury yields and the greenback.

The common currency was steady at $1.0667, having soared just 0.2% overnight against the greenback. Its advance was tempered by a steep drop in German bund yields powered by flight-to-safety, reacting to the bombings in St. Petersburg.

 

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