Yen weakens to new low, Swiss franc slips versus euroBusiness | 15 Apr 2019 11:31 am
The yen hovered near its lowest level this year today as more signs of stabilisation in the Chinese economy and an upbeat start to the U.S. earnings season prompted investors to abandon the safe-haven currency to seek higher returns elsewhere, Reuters reports.
The US dollar stood at 112.02 yen, little changed on the day but near Friday’s high of 112.10, which was near its year-to-date peak of 112.135 touched in early March.
The safe-haven Swiss franc has also eased against the euro, which strengthened to 1.1340 franc, recovering its losses made late last month to hit a three-week high on the franc.
The common currency traded at US$1.1312, keeping intact its slow recovery from US$1.1183 touched on April 2. It rose to as high as US$1.1324 on Friday.