Investors Move to Safe Haven Currencies Due to Recession Fears – 14 August, 2019

Fears of a global recession have investors flocking to safe haven currencies, with the yen and dollar both gaining overnight. Weak data from China and Germany left the yen stronger, trading up 0.74% to 105.93, just below the 1 1/2 year high hit on Monday. The dollar index was last up 0.17% higher to 97.978, and the Chinese yuan shed some of its previous session gains on weaker than expected economic data and ongoing tariff conflicts. Industrial output in China was at its slowest pace in 17 years, hit hard by trade pressures.