Global Growth Worries Cause Yen To Dip – 4 January, 2019

Concerns of slowing global growth and ongoing U.S.-China trade tensions caused the safe haven yen to dip against the dollar, with talks between the U.S. and China taking place on January 7-8. The yen weakened to 108.31, down 0.6 percent, while the Australian dollar gained 0.2 percent to $0.7020. Investors expectations on a possible 2019 rate hike have dwindled as U.S. factory activity weakens, and sharp dives in economic growth are likely to keep investors will more than likely deter investors from riskier assets. After having fallen 0.56 percent in the previous session, the dollar index was steady at 96.3, while the euro and sterling remained unchanged at $1.1393 and $1.2636.