Forex – Aussie Dollar Gains Despite Risk Aversion in Stock Markets; Dollar Slips

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Investing.com – The Aussie dollar gained on Thursday even after global markets fell sharply, while the U.S. dollar, usually considered a safe-haven asset, unexpectedly slipped despite the slide in stocks.

Japan’s Nikkei 225 was down 4%, while China’s Shanghai Composite also slumped to four-year lows after U.S. stocks suffered their worst one-day drops in eight months overnight.

The U.S. dollar index, which tracks the greenback against a basket of other currencies, slipped 0.2% to 94.96 by 1:42 AM ET (05:42 GMT).

“In an environment where people are concerned about rising volatility, the dollar tends to do well – especially versus higher-risk currencies such as the Aussie and Canadian dollar,” said Stuart Ritson, head of Asian rates & foreign exchange at Aviva (LON:AV) Investors.

Read more at : https://www.investing.com/news/forex-news/forex–aussie-dollar-gains-despite-risk-aversion-in-stock-markets-dollar-slips-1639918

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