In trading today the trend of safe haven currencies recouping losses from the past couple of weeks against their higher-yielding counterparts has continued.
The euro and sterling stayed lower against the dollar this morning as poor figures from the euro zone, Greece in particular, sent the currencies lower. The euro hit a three-week low of $1.2805, while the pound sunk as low as $1.5585, its lowest level since the start of the month. The dollar managed to claw back some of its losses from yesterday against the Japanese yen amid speculation that the Bank of Japan might intervene to deflate the currency.
A poor performance from global stock markets has helped the US dollar, Swiss franc and Japanese yen make considerable gains against their more volatile peers throughout the trading day.
