Aug 27: risk-off sentiment

August 27, 2013

EUR/USD is quietly trading in the $1.3360/90 range, now staying flat at $1.3370. The only and main release in the EZ today will be the German Ifo business climate at 8:00 GMT (the index is expected to improve). GBP/USD moved a little higher to $1.5590 before returning to $1.5560. USD/CAD strengthened to 1.0525.

Asian stocks fell amid a freefall in the currencies of India and Indonesia, and as tensions in Syria escalated. USD/JPY had slid almost to 98.00 earlier today. Then the pair tried to recover, but got capped by 98.40. Yen strengthened as investors increased demand for it as a safe haven. USD/CHF is consolidating above the support at 0.9200. AUD/USD fell to $0.8960. Australia’s dollar declined as volatility headed for the highest close in six weeks, damping demand for the currency. NZD/USD dropped back to the levels just above $0.7800.

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