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Yen Gains as Risk Aversion Rises

Thursday,   06-Dec-2018   04:35 PM (IST)

The yen strengthened as safe haven demand for the Japanese currency was bolstered by widespread risk aversion in markets. The yen is often sought by investors as a refuge during times of market or geopolitical turbulence.USD/JPY was last down 0.4% to 112.74 after falling as low as 112.58 overnight, while EUR/JPY was off 0.52% at 127.75.The euro was a touch lower against the dollar, with EUR/USD dipping 0.12% to 1.1329 after retreating from this week's high of 1.1419 scaled on Tuesday.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was little changed at 97.06.The pound was steady, with GBP/USD last changing hands at 1.2741 as investors braced for a key parliamentary vote on the Brexit deal on December 11, amid doubts over whether the vote will pass.