Yen Gains Against Dollar As Stocks Keep Falling – 24 October, 2018

The typically safe-haven yen rose on the back of trouble on Wall Street and continued Brexit tensions, gaining against the dollar. The yen advanced 0.35 percent to 111.87 the dollar with heightened worries about U.S. and China trade tensions as well as Italy’s free spending budget and U.S. corporate earnings. Sales of single family homes in the U.S. fell to a two year low due to rising mortgage rates and higher prices.  The euro dipped 0.7 percent over concerns of economic growth in Europe, showing the a slower pace than expected. Against the dollar, the pound was slightly higher at $1.2891 after hitting a six week low the day before and losing 0.78 percent.