As global growth concerns rise, traditional safe havens currencies are in course again. Investors now shifting their interests to Swiss franc and Japanese yen due to escalating US-Chine trade war, weak economic data across the world, political situation in Italy and also increasingly dovish policies among central banks.
Increasing demand moved value of the yen to its highest level in more than 1-1/2 years against the US dollar. Yen climbed versus the dollar approx. 0,5 % to 105.15 (the highest level since March 2018). Yen is now considered as a top performer among big currencies, rising more than 3 % this month. But those results are not really welcomed by the Bank of Japan and its continued battle with low inflation rate.
Swiss franc also strengthened around 0,1 % against the euro and the US dollar. But its value was influenced by the Swiss National bank who had to intervene in their currency to avoid the franc from further appreciation.