Yen Gains Against Dollar, Aussie Dips On Rate Cut Possibilities – 6 February, 2019

On the heels of a possible rate cut due to growing economic risk, the Australian dollar dipped, hovering just above a two week low. In its largest largest percentage drop in over a year, the Aussie last traded at $0.7103 after losing 1.8 percent the previous session. Against the dollar, the yen edged up 0.15 percent to 109.78, gaining roughly 1 percent against the Japanese currency this month. The dollar index was steady at 96.35, just below a two week high, against six major currencies, gaining for the past 3 straight sessions. Due to Brexit uncertainties, sterling weakened by 1.3 percent in February, last trading at $1.2927.