The Japanese yen surged today amid the risk-averse market sentiment, caused by various geopolitical problems across the world.
The most recent event, which caused concerns for investors, was the rift between Qatar and several other Middle Eastern countries. The more pressing concern, though, was the departure of Great Britain from the European Union and worries and risks associated with it. But the most important issue, fueling the risk-off sentiment, was the upcoming testimony of the former FBI director James Comey to the Senate committee, which may shed light on ties between US President Donald Trump and Russia.
USD/JPY dropped from 110.44 to 109.35 as of 13:33 GMT today. EUR/JPY fell from 124.30 to 123.29, and its daily low of 122.92 was the lowest since May 18.
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