On Thursday, the Yen and Swiss franc witnessed a rise. This was because the traders had finally embraced the safe haven currencies.
This was as there was volatility on the Wall Street increased after the data revealed that there was deterioration in the consumer confidence of the United States.
According to a report published by the Reuters, the administration of the president of the United States, Donald Trump is now considering an executive order which will be issued in the New Year.
This order will declare a state of national emergency in the country and would bar the companies of the United States from using the products of Huawei Technologies as well as ZTE products.
There was a weakening in the prices of the oil which reached a state to 18 months low. This in turn led to commodity linked sagging.
According to the senior analyst at FXStreet of New York, Joseph Trevisani, the investors along woth the others are getting leery because of the kind of market volatility at this time of the year.
The Yen had witnessed an increase of 0.3 percent against dollar thereby reaching a value of 111.035 yen. In the wake of this there was a loss of almost a percent which is the biggest fall in terms of percentage since the 23rd of April.
Reversing the drop of aboiut 1.1 percent which took place on Wednesday, the Swiss franc witnessed an increase of about 0.83 percent thereby reaching 0.9875 franc on a dollar.
To state it in a broader sense, the dollar index was down by about 0.51 percent reaching a value of 96.558.
Dollar index basically tracks the greenback against six major currencies of the world.
On Thursday, a measure of the consumer confidence of the United States had posted its sharpest decline of December, which took place in more than three years.
Source: Reuters, Investing
