After basking in the glow of an apparent lessening in geopolitical risks earlier in the week, currency traders across Asia have had a change of heart in Wednesday trade.
Risk aversion is back, albeit mildly at this stage.
As seen in the scoreboard below as at 2.35pm in Sydney, currencies that have benefited in recent days — such as the Australian, New Zealand and Canadian dollars — are under the pump midway through the session.
USD/JPY 110.48 , -0.40 , -0.36%
USD/CNY 6.3614 , 0.0095 , 0.15%
AUD/USD 0.7547 , -0.0028 , -0.37%
NZD/USD 0.6902 , -0.0030 , -0.43%
USD/CAD 1.284 , 0.0023 , 0.18%
EUR/USD 1.1764 , -0.0014 , -0.12%
GBP/USD 1.3414 , -0.0020 , -0.15%
USD INDEX 93.659 , 0.0500 , 0.05%
The Japanese yen — well known an a barometer of investor sentiment — is also on the rise, indicating a degree of nervousness.
Other than renewed uncertainty towards US negotiations with China and North Korea that resurfaced overnight, there is no other clear catalyst to explain the sharp and sudden slide.
Indeed, earlier in the Asian session, there was no sign of investor nerves.
The Turkish lira did weaken sharply before the latest slide in broader currency markets, potentially creating nerves about other emerging market currencies.
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