Risk aversion caused turbulence in Asia’s foreign-exchange markets on Wednesday, but fears subsided by the European morning’s end. Earlier gains by the safe-haven yen and Swiss franc were reversed, leading to overall currency stability.
The previous night’s risk-off wave in Wall Street extended to Asian equities, with Japan’s Nikkei and South Korea’s KOSPI plummeting by up to 4.7% and 6.2% respectively. Despite a tech-led sell-off, European markets steadied with minor declines.
Attention now shifts to the imminent U.S. private payrolls data, vital this month due to the cancellation of non-farm payrolls. Influential decisions from the Bank of England and Norway’s central bank are also expected. Bitcoin rose after recent losses, reflecting mixed global financial sentiments.
(With inputs from agencies.)
