Forex Today: risk aversion to keep leading the way
|Here is what you need to know on Monday, September 23rd:
- Risk aversion took over the market Friday on escalating trade tensions, and would likely persist Monday, following news indicating that the Pentagon will deploy US forces to the Middle East, which will be “defensive in nature,” a result of the Iranian attack on Saudi Arabian oil facilities.
- During the weekend, the Saudi Foreign Minister said that if the attack was launched from Iran, it would be considered an act of war. Meanwhile, Houthi rebels in Yemen have warned foreign diplomats that Iran is preparing a follow-up strike to the missile and drone attack on Saudi Arabian oil and gas facilities.
- The run to safety and the lack of progress on the Irish backstop weighed on the Pound.
- Safe-haven assets were the best performers, with gold and yen poised to extend their advances.
- Cryptos maintain the bearish tone, could turn north on persistent risk aversion.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.