Safe Haven Currencies Gain Interest As Virus Sees Uptick – 11 June, 2020

Safe haven currencies got more attention this week as an uptick in coronavirus cases is seen around the world and optimism over a quick recovery diminishes. The euro fell from Wednesdays three month high of $1.14225 to settle at $1.1291, while the pound fell from Wednesdays high of $1.2812 to settle at $1.2556. The Australian dollar shed 0.5%, adding to a 2% drop earlier in the week to stand at $0.6822, experiencing its biggest daily drop since March. The Swiss franc was firm at 0.94395 per dollar after reaching a three month high of 0.9376 last week. The yen recovered 3.1% from a 2 1/2 month low last week to settle at 107.10 per dollar, after hitting a one month high of 106.58 this week.