Yen Steady On Australian Dollar Dip – 31 January, 2019

Shrinking factory work in China has caused the Australian dollar to fall versus the U.S. dollar after a private survey showed low factory readings, adding on to global growth concerns. The Australian dollar fell 0.4 percent to $0.7246, showing a a lower appetite for global risk, a possible signal that investors will flock to the Japanese yen, the safe-haven currency. After hitting a two week high, the yen remains steady at 108.8.