EURJPY Slipped to Five Month Low on Russian Sanctions Risk

by on July 17, 2014 9:58 am BST

EURJPY hit a five-month low against on renewed safe-haven inflows as the West imposed further sanctions against Russia, which weighed on global risk sentiment.

USDJPY fell 2% percent to 101.45 yen, its lowest since early February. The safe-haven Swiss franc was also firmer, with the dollar down 0.1 percent against the franc at 0.8976 francs.

The euro was steady against the dollar at $1.3530, recovering from a one-month low of $1.35205 hit earlier in the session. Traders said a break of an important support at $1.35 could cause a wave of selling.

The U.S. dollar underperformed its Canadian peer after the Bank of Canada was neutral on the next move for interest rates. Some in the market had wagered the central bank would go all the way and adopt an easing bias.

The dollar eased to C$1.0728, from a three-week high of C$1.0795.