Safe-haven currencies soften as signs of recovery fan risk appetite – ZAWYA

Safe-haven currencies soften as signs of recovery fan risk appetite – ZAWYA

Safe-haven currencies soften as signs of recovery fan risk appetite | ZAWYA MENA Edition HomeMarketsCurrenciesArticleSafe-haven currencies soften as signs of recovery fan risk appetite Chinese yuan, Aussie tick up after China PMI    Bank notes of different currencies, including Euro, U.S. Dollar, Turkish Lira or Brazilian Reais, are photographed in Frankfurt, Germany, in this illustration picture taken May 7, 2017. Picture taken May 7, 2017. TOKYO: Safe-haven currencies were on the backfoot on Tuesday as hopes of an economic turnaround boosted riskier assets like the Aussie and yuan, although worries about a blowout in British public spending kept the pound under pressure.Spurring fresh optimism on the U.S. economy was pending home sales data, which showed that housing market activity had quickly recovered in May from a plunge triggered by the pandemic.  Pending home sales, based on contracts signed last month, surged 44.3%, compared to economists' forecast for 18.9% rise.Spurring fresh optimism on the U.S. economy was pending home sales data, which showed that housing market activity had quickly recovered in May from a plunge triggered by the pandemic. TOKYO: Safe-haven currencies were on the backfoot on Tuesday as hopes of an economic turnaround boosted riskier assets like the Aussie and yuan,