Stress in emerging markets and jitters over Syria fuelled a flight to safety that benefited the yen and gold.
The Australian dollar was the worst performer in the Asian session on Tuesday, as investors moved out of the riskier Aussie to its safer counterpart, the yen, retreating more than half a yen.
AUDJPY reached as low as 86.44 yen while AUDUSD fell to a low of 0.8903 Also weighing on the Aussie today was some disappointing economic data.
Australian construction work slowed down in the last quarter. It was expected to rise 1.1 percent but instead declined 0.3 percent.
Yen holds near 1-week high against dollar, with USDJPY tumbling to 96.80 in early Asian trading before steadying. EURJPY fell to 129.64.
Euro held steady against the dollar, with EURUSD consolidated in Asia, trading between $1.3372 and $1.3397.
Sterling will be in focus today as Bank of England Governor Mark Carney will be speaking later today. He is expected to reiterate that interest rates must remain low.
GBPUSD made very small moves and remained within yesterday’s range, edging lower in Asia to $1.5505.
Risk aversion resulted in gold climbing to a three-month high, peaking at $1,428.51 by the end of Asian trading and heading higher.
The escalating tensions in Syria are causing oil prices to rise. Crude jumped to $112.21, a level not seen since May 2011.
Stress in emerging markets and jitters over Syria fuelled a flight to safety that benefited the yen and gold.
The Australian dollar was the worst performer in the Asian session on Tuesday, as investors moved out of the riskier Aussie to its safer counterpart, the yen, retreating more than half a yen.
AUDJPY reached as low as 86.44 yen while AUDUSD fell to a low of 0.8903
Also weighing on the Aussie today was some disappointing economic data.
Australian construction work slowed down in the last quarter. It was expected to rise 1.1 percent but instead declined 0.3 percent.
Yen holds near 1-week high against dollar, with USDJPY tumbling to 96.80 in early Asian trading before steadying. EURJPY fell to 129.64.
Euro held steady against the dollar, with EURUSD consolidated in Asia, trading between $1.3372 and $1.3397.
Sterling will be in focus today as Bank of England Governor Mark Carney will be speaking later today. He is expected to reiterate that interest rates must remain low.
GBPUSD made very small moves and remained within yesterday’s range, edging lower in Asia to $1.5505.
Risk aversion resulted in gold climbing to a three-month high, peaking at $1,428.51 by the end of Asian trading and heading higher.
The escalating tensions in Syria are causing oil prices to rise. Crude jumped to $112.21, a level not seen since May 2011.
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