Session Recap: USD and JPY gain amid Syria tensions

FXstreet.com (Córdoba) - The safe-haven currencies gained on Tuesday while riskier currencies fell as geopolitical tensions rose with the US laying groundwork for possible action against Syrian government.

The USD was trading firmer versus most competitors, with the main exception of the yen, as risk aversion hit the markets amid Syrian turmoil. EUR/USD slid toward the lower end of its recent range hitting a low of 1.3322 before bouncing slightly, with better-than-expected German IFO data going unnoticed.

Amid risk aversion, GBP/USD fell to 1.5500 and USD/JPY broke below the 98.00 mark. Meanwhile, the CHF trades virtually unchanged while the CAD and the AUD are under pressure, with the latter back below 0.8950.

Elsewhere, oil futures rose to above $107 a barrel amid fears of supply disruption while European stocks and US futures are broadly lower.

Main Headlines in Europe:

Asian equities embracing for US impact?

Flash: What can we do with the EUR/USD? – Commerzbank and UBS

Commodities rising on Syrian jitters

Germany: IFO – Expectations rose to 103.3 in August

Spain 3-Month Letras Auction: 0.155% vs 0.442%

Bourses in Euroland retreat on Syria, US debt ceiling. EUR plunges to 1.3320