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Safe Haven Currencies Decline

M. Ali 1 September, 2020 7:44 pm Forex Market, Market Update

Safe haven currencies, namely the Japanese Yen (JPY) and the Swiss Franc (CHF) are showing a weak performance on Tuesday, amid decreased demand with improved risk appetite supported by news of new COVID-19 vaccine and treatments.

The CHF is leading the decline with its highest losses coming against the New Zealand Dollar (NZD) of 0.94% with the NZD/CHF pair trading at  0.61419.

The Swiss Franc is also down against the US Dollar (USD) 0.48% and in front of the Euro (EUR) and the British Pound (GBP) by 0.50% and 0.84%, respectively.

Meanwhile, the Yen is down by 0.50% against the GBP, 0.61% to the NZD, with smaller losses against the EUR and the USD of 0.15% and 0.08%.

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