Investors were walking back their recent dive into havens on Tuesday as worries over a potential US-North Korea conflict appeared to ease, prompting Japan’s yen to soften to more than ¥110 per dollar and gold retreated further from recent highs.
The yen was 0.5 per cent weaker at ¥110.18, the softest level in five days after having pushed to as strong as ¥108.74 on Friday amid a war of words between Washington and Pyongyang.
Gold was losing still more of its lustre in Asia after dropping 0.6 per cent on Monday as traders in Europe and the US brightened on the likelihood of avoiding a nuclear war in Asia. The yellow metal was another 0.6 per cent lower at $1,274.44 an ounce in Tuesday morning trade, having touched a nine-week day high on Friday.
The Swiss franc was 0.1 per cent weaker at Sfr0.9733, having weakened 1.1 per cent on Monday.