The Japanese yen gained on its rivals during the current trading session as the market sentiment soured, making investors shun riskier assets and prefer safer ones.
Market participants were a bit nervous ahead of the upcoming Group of Twenty meeting. In particular, they were concerned how the Trump administration will handle its coming out.
The yen, being traditionally considered a safe currency, profited from such concerns. The Australian dollar, a risk-sensitive currency, was one of the biggest losers against the yen, though Australia’s macroeconomic data also played part in the Aussie’s decline.
USD/JPY slid from 114.15 to 113.57 as of 12:42 GMT today. AUD/JPY dropped from 88.00 to 87.54.
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