Yen rises on renewed jitters about U.S.-China after Huawei report

Friday, 9 August 2019 07:54 WIB

DOLLAR Indeks Dolar Yen


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


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