The Swiss franc gained across the board on Wednesday and the yen rallied to a two-week high versus the dollar. Investors moved together to perceived safe havens assets amid growing fears about the trade saga and growth.
Category: Features
The euro was down on Tuesday as investors nervous about trade tensions bought into the safe-haven dollar. Political risks in Europe remain high, even though pro-EU parties won a majority of European parliamentary seats.
After EU vote the euro held firm in early Monday trade. Pro-European Union parties withstood more fragmentation than before to hold on to two-thirds of seats in the EU parliament elections.
Pound was up 0.4% against the euro after PM May resignation, after 14 days of losses, but gains seen short-lived.
Trade friction sent US dollar to one-month high as concerns grew that the China-U.S. conflict was fast turning into a technology cold war. Economic and political uncertainties swept through Europe and Asia, pinned down most major currencies like the euro and the yuan.