Written by Steven Dooley, Head of Market Insights, and Shier Lee Lim, Lead FX and Macro Strategist
USD, JPY outperform as US shares fall
US shares were mostly lower overnight as big earnings reports drove the price action and the weaker sentiment saw risk-sensitive currencies weaken while safe havens like the US dollar and Japanese yen outperformed.
Financial firm Visa, luxury brand LVMH and car manufacturing Tesla all missed forecasts, although tech-giant Alphabet beat expectations.
The S&P 500 fell 0.2% while the tech-focused Nasdaq lost 0.4%.
In FX markets, the stronger US dollar saw key currencies weaker.
The AUD/USD fell 0.5% to hit five-week lows while NZD/USD lost 0.4% to hit ten-week lows.
The euro and GBP also fell.
In Asia, the Japanese yen extended its recent recovery with the USD/JPY down 0.9%. The JPY surged against most other currencies. Tokyo…
