Currencies in focus: Yen the strongest against the USD and CAD the weakest

Author: Giles Coghlan | Category: News

Yen strong and CAD weak

Yen strong and CAD weak

The CAD is weak as oil moves down near to its two months low on growing stockpiles. Meanwhile the JPY is stronger on risk aversion as US-China trade negotiations seem to be taking a turn for the worse and the reforms wanted are very fundamental rather than merely trade issues per se. The US have also imposed retaliatory tariffs of 10% on EU aircraft and 25% on EU agricultural and industrial goods and don't forget we have Brexit risk too. JPY could gain a lot more if any of these wobbling plates fall off.
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