Trade Tensions And Global Growth Concerns Continue – 22 January, 2019

Investors have been turning away from risky assets helping the yen hold onto overnight gains against the dollar supported by ongoing trade tensions and global growth concerns. The safe-haven yen gained 0.5 percent against the dollar to 109.4. The Australian dollar inched down to $0.7120, and the dollar index dipped to 96.30. The International Monetary Fund had cut global growth forecasts for 2019/2020 due to the ongoing trade tensions between the U.S. and China, and stated that should a resolution drag out, the global growth economy will continue to slow down. Sterling gained 0.5 percent to $1.2961, while the euro remained stable at $1.1362.