020 7898 0500Elsewhere yesterday, we saw the Japanese yen recover from two month lows against the US dollar. Global stock markets took a downturn as the four-day summit in China came to a close, and the Communist Party did not offer up any notably bold policies to shore up the growth of the world’s second largest economy. As a result we saw an increased demand in the marketplace for traditionally safe-haven assets such as the Japanese yen. The Canadian dollar continued to struggle, hitting two month lows amid fears that the Federal Reserve will begin to taper monetary policy. Furthermore, speculation that the Bank of Canada will keep interest rates low in order to encourage exports, further weakened the currency. The Australian dollar also struggled, hitting eight week lows following the rumours surrounding the US monetary stimulus. Overnight last night we had GDP figures out of Japan, and later today we have trade balance figures from Canada. Get in touch with your trader for a live rate.
