The biggest winner today against the US dollar was the Japanese Yen compared to other major currencies. The Yen gained ground amid growing risk aversion among investors due to worries ahead of EU summit that will lead to a failure. The Yen had returns up to 0.98%, being the only winner up to now today of the 7 major counterparties. The precious metal has been flat-line today versus the greenback.
The British pound fell on speculation that the Bank of England will increase its Quantitative Easing next week as U.K Inflation drops closer to target, the GBP had losses of 0.23%. Furthermore, the US dollar strengthened as well against the rest of the major currencies due to increasing concerns about global growth. The Euro lost 0.64% against the greenback, the Swiss franc lost 0.64% as well and the Aussie had negative returns of -0.65%, falling below parity.