Australian dollar, yen, Swiss france all lower

The yen and the Swiss franc, the two currencies most popularly sold to finance carry trades, were both weaker on Thursday.

At mid-session in New York, the yen had dropped 0.1 percent to ¥242.10 versus sterling, while it was 0.3 percent lower against both the euro and the US dollar. The yen traded at ¥163.70 in relation to the euro and was at ¥122.95 versus the greenback. The Japanese currency was also 0.3 percent lower against the New Zealand dollar, to ¥92.25.

Meanwhile, the Swiss franc also a bit weaker even though the Swiss National Bank raised interest rates in Switzerland by 25 basis points to 2.5 percent, and analysts expect rates there to rise to 3 percent by the end of the year. The Swiss currency dropped 0.1 percent against the US dollar and the euro, to SFr1.2450 and SFr1.6580 respectively.

The Australian dollar weakened as well, on remarks from the governor of the Reserve Bank of Australia that led analysts to believe interest rates will remain where they are at least until the end of the year. The Australian currency dropped 0.2 percent to ¥102.70 against the yen. In addition, it fell 0.5 percent to $0.8356 versus the greenback.

The US dollar, meanwhile, moved very little. It remained steady in relation to the euro at $1.3320, while it gained 0.1 percent to $1.9695 against sterling.

Story link: Australian dollar, yen, Swiss france all lower