According to Jinshi Data, Mitsubishi UFJ said that investors' weakening risk appetite continued to suppress risk-sensitive G10 commodity currencies, including the Norwegian krone, New Zealand dollar, Canadian dollar and Australian dollar.

The bank's bank analyst Lee Hardman said in a report that the deterioration in investor risk sentiment was again evident in the overnight sell-off in U.S. stocks, led by technology stocks.

He also mentioned that the Bank of Canada's 25 basis point rate cut on Wednesday also weakened the Canadian dollar.