Currency Note Worldwide

Safe haven currencies benefit from uncertainty

By Ricky Bean August 18th, 2014

  • Friday saw a flow of capital towards safe-haven assets, with confidence dropping from the market amid reports from the Ukraine of an attack on a Russian convoy. As a result, we saw the traditionally low-risk currencies perform well, with the Japanese yen and the Swiss franc both logging gains. Similarly we saw riskier, emerging-market currencies take a tumble as traders got cold feet, selling off the likes of the Turkish lira and South African rand.
  • The Canadian dollar strengthened on Friday following revised employment data, which came in well above the previous figures.
  • Looking forward to this week, it’s poised to be an interesting few days for the Canadian dollar this week with wholesale sales, retail sales, and inflation data out this week. Other releases of note will be Australian monetary policy meeting minutes, and Chinese manufacturing industry figures.

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