Yen Dips, Sterling Hits Two Year Low – 29 July, 2019

The yen traded near a three week low after a Bank of Japan monetary policy meeting. The Japanese currency was little changed against the dollar in later trading, with the dollar index against a basket of six major currencies last traded at 98.163 and just below the two month high of 98.165. The yen last stood at 108.740 per dollar, falling to a three week low of 108.950 in early Asian trading.  The pound continued to fall to a 28 month low of $1.2164, with investors growing increasingly anxious about a possible no deal Brexit. Sterling has dropped to the dollar consecutively over the last four days.