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Yen Falls to 5-Week Low on Trade News, U.S. Yields


Tuesday, 10 September 2019 12:55 WIB

Currency YenUSD/JPY,


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The yen dropped to a five-week low versus the dollar as signs of some easing in U.S.-China trade tensions and higher Treasury yields sapped demand for Japan's currency.

The yen weakened for a second day after President Donald Trump said the U.S. will be talking with China next week, while Treasury Secretary Steven Mnuchin said Monday both sides made “a lot of progress” in negotiations. The pound edged down from a six-week high after U.K. parliament again rejected Prime Minister Boris Johnson’s bid for an early election.

USD/JPY rose 0.2% to 107.41 after climbing to 107.50, highest since Aug. 2.

Treasury 10-year yields fell 1bp to 1.64% after jumping 8bps on Monday.

Source : Bloomberg


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