Euro weakens with yen as haven demand wanes

London - The euro weakened alongside the yen as investors turned away from haven currencies before a US payrolls report that may help determine when the Federal Reserve increases interest rates.

The 19-member currency headed for a third weekly decline versus the dollar, its longest losing streak since March, as stocks around the world gained.

The euro and yen were the best- performing currencies against the greenback last quarter as investors sought safety amid a rout in and stock and commodity markets. The median forecast of economists surveyed by Bloomberg showed employers added 201 000 jobs in September.

“We’ve tentative improvement in risk sentiment,” said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ in London.

“The euro and yen have been trading as safe havens in this recent period of risk aversion and obviously the fact that we’re seeing some easing of those conditions is resulting in euro and yen strength reversing. The payrolls report is not going to significantly change market expectations for tightening."

The euro weakened 0.3% to $1.1164 at 10:07, headed for a 0.3% decline since September 25. It was little changed at ¥134.05. The Japanese currency fell 0.1% to ¥120.07/$.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
18.15
-0.8%
Rand - Pound
20.13
-0.2%
Rand - Euro
17.68
-0.3%
Rand - Aus dollar
11.55
-0.0%
Rand - Yen
0.12
-0.6%
Gold
1,694.80
-1.1%
Silver
20.13
-2.6%
Palladium
2,192.88
-3.1%
Platinum
916.50
-1.0%
Brent Crude
94.42
+1.1%
Top 40
59,280
-0.2%
All Share
65,676
-0.2%
Resource 10
63,294
+0.0%
Industrial 25
79,505
-0.7%
Financial 15
14,072
+0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders