Daily Forex News

Thursday, the Japanese yen rose to a new multi-year high against the Swiss franc as a fall in stock prices prompted investors to sell higher-yielding assets funded in Japan. The yen also climbed to a 1-week high against the currencies of US and Europe and a 3-day high versus its British counterpart.

The US dollar showed mixed performance against its major counterparts in early European deals on Thursday. While the dollar rose to a 3-day high against the pound, it eased from a 1-week high against the euro. Meanwhile, the dollar recovered from a 1-week low against the yen, but it showed choppy trading against the Swiss franc.

Thursday, the Australian and New Zealand dollars slumped to new lows against their major counterparts as a further decline in stock prices prompted investors to sell higher-yielding assets.

During early deals on Thursday, the pound slumped to a 3-day low against its US and Japanese counterparts ahead of the UK retail sales report, which is due at 4:30 am ET. The pound also edged down against the franc, while it fell from a new multi-day high against the euro.

Thursday, the Southeast Asian currencies plunged against the US dollar as a deepening global economic slump prompted investors to sell emerging-market assets. Against the dollar, the Indian rupee slumped to a new record low, Malaysian ringgit tumbled to a new 2-year low, Singapore dollar fell to a new 15-month low, Taiwan dollar and the South Korean won slipped to new multi-week lows, Chinese yuan and the Thai baht dipped to new multi-day lows.