SAFE.
Bank of America (BoFA) has expressed confidence in safe haven currencies given the ‘weak recovery of the global economy as well as delays on a vaccine’. They are positive on JPY, USD and CHF against the EUR, GBP, CAD. Given the prevailing risk on mood, this could potentially increase traders’ confidence on these currencies.
In a related news, the USD/JPY was seen to drop to its lowest level since March at 104.00 as JPY continues to ride on the risk off waves. However, the Greenback fought back during the second half of the day.
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