Wednesday , December 8 2021

The yen has reached a three-year low as safe haven currencies are burdened with an appetite for risk



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© Reuters. The price of the yen in relation to the dollar on the screen in one exchange office in Tokyo. Photo from the Reuters archive.

LONDON (Reuters) – On Friday, it fell to a three-year low and headed for its worst week since March 2020, as the dollar headed for its first weekly decline against major currencies since the beginning of last month, as the appetite for risk globally level recovered.

And in a market that exceeded $ 60,000 for the first time in six months, at a level not far from its record high, backed by bets that U.S. regulators would agree to establish a currency futures trading fund.

It fell 0.1 percent to 93.9 and fell 0.2 percent during the week, which would be the first weekly loss in six weeks.

The Japanese yen was the biggest loser among currencies, as it fell to 114.4 against the dollar, which is its worst performance since October 2018. The yen is a safe haven currency, hurt by the recovery of feelings, including in Asia.

The dollar rose 0.5% to 114.31 yen in the last trading, recording a weekly increase of 1.9 percent, which is perhaps the worst week for the yen since March 2020.

It rose 0.1 percent to $ 1.1611, after hitting $ 1.1624 for the first time since Sept. 4 on Thursday.

It rose 0.5% to $ 1.3741, after climbing to its highest level since Sept. 24 at 1.3734 in the evening.

The risk-sensitive Australian dollar also rose 0.2 percent to $ 0.7428 before gains disappeared.

The New Zealand dollar jumped 0.4 percent to $ 0.7065, extending growth after rising 1 percent on Thursday.

(Prepared by Marva Salam for the Arabic Bulletin – edited by Suha Jado)

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