Tuesday, 7 February 2017

Asia markets fall, Nikkei drops 0.9%, ASX down 0.4%

Ripples Advisory Private Limited, Indore @9303093093

Asian markets were negative early on Tuesday following the sluggishness in global equities amid risk-off sentiment. Spot gold, viewed as a safe-haven asset, was trading at USD 1,233.56 per ounce, up for the fifth straight session. The Japanese yen, another safe-haven play due to its large current account surplus, has appreciated strongly against major currencies. "Investors are nervous about the economy and President Trump's policies. 

Also, "Trump has been on a campaign to pressure other countries to strengthen their currency which effective means he wants the dollar to weaken. The yen was fetching 111.68 per dollar in early Asian morning, falling below the 112 handle yesterday. Against the euro, the yen traded at 119.75, versus levels above 121 seen last week. Japan's Nikkei 225 lost 0.88 percent on the back of continued yen strength.

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