GEOPOLITICAL risk in the Middle East dominated this week’s proceeding, which saw the general risk-off tone prevailing through in various asset classes and the usual “safe haven” currencies flows.
The greenback rose against its riskier peers from parts of Europe, Canada, Australia and Asia, but lost ground to the Japanese yen, another safer port sought after during periods of heightened uncertainty as the escalating tensions in Syria might lead to international involvement in the Mediterranean nation’s civil war following the statement by the US Secretary of State John Kerry that there was “undeniable” evidence that the Syrian government recently used chemical weapons on civilians, calling the act a “moral obscenity”.
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