Increased volatility in the foreign exchange market has led investors to flock to safe-haven currencies.

PANews reported on November 14th that volatility in the foreign exchange market intensified on Friday as a sell-off in stocks prompted investors to flock to safe-haven assets. Meanwhile, a report that the UK's budget this month would not raise income taxes weighed on the pound. Multiple intersecting factors are currently influencing the market, but the most fundamental reason is that traders believe the likelihood of a Federal Reserve rate cut in December is far lower than expected a few weeks ago. More Fed officials signaled caution overnight, remaining reserved about further easing due to inflation concerns and signs of relative stability in the labor market. This shift in expectations triggered a sell-off in highly valued US stocks and government bonds, which spread to Asian and European markets, and in the foreign exchange market, this drove funds towards the Swiss franc and the Japanese yen. Latest data shows that the US dollar fell 0.5% against both the Swiss franc and the Japanese yen.