Calming Tensions Cause Yen And Franc To Cool Off Gains – 8 January, 2020

As tensions between Iran and the U.S. subside, the yen and swiss franc dipped as investors looked to take more risks. The safe haven yen shed Wednesdays gains that were a result of a U.S. missile strike that killed a top Iranian commander. After it touched a three month low against the yen, the dollar bounced back to trade at 109.19 yen having hit as low as 107.65 yen the previous session. Against the Swiss franc, the dollar rose to 0.974o after hitting a low of 0.96655 the previous day. The euro traded at its lowest in almost two weeks at $1.1116, while the Australian dollar was steady at $0.6870 having hit a three week low the previous session at $0.6849. Gold hit a seven year high of $1,610.9 per ounce before retreating to $1,559.4 per ounce.