Euro Surges, Pound Rises, Yen Rallies
ICM Brokers | Aug 25, 2015 05:51AM ET
EUR/USD
EUR/USD surged more than 2% to its highest level in eight months, as currency traders dumped their positions in the dollar on Monday, amid a global equities sell-off sparked by a potential recession in China. The currency pair traded in a broad range between 1.1370 and 1.1710, before settling at 1.1610 up 2.05% on the session.
GBP/USD
The pound rose against the dollar on Monday amid a broad based selloff in global equity and commodity markets as mounting fears over a slowdown in China fueled widespread risk aversion. GBP/USD traded 0.40% to 1.5706.
USD/JPY
The yen rallied on Monday, as a fresh plunge in Chinese equities overnight added to fears that the world’s second-largest economy is slowing and hastened an exodus from riskier assets. USD/JPY hit one-and-a-half month lows of 120.80 and was last down 0.80% at 121.10.
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