The yen rose on Friday on renewed concerns about the U.S.-China trade dispute after a report that the White House is delaying a decision on allowing U.S. companies to do business with China’s Huawei Technologies.
The Bloomberg report on Huawei, a telecoms equipment maker that Washington has accused of espionage and stealing intellectual property, sparked a flurry of risk-off trades which also pushed up gold prices and sent U.S. stock futures lower.
The dollar fell 0.2% to 105.84 yen, on course for its second weekly decline. If the dollar manages to break its Aug. 7 low of 105.50 yen, it would next target 105.00 yen, Ishikawa said.
Yen traders were largely unfazed by data showing Japan's economy grew much more than expected in April-June, as robust private consumption and business investment offset the hit to exports from cooling global demand.
The dollar index, which measures the greenback versus a basket of six major currencies, was little changed at 97.566.
Source : Reuters