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Trade optimism pressures yen but caution prevails ahead of Fed, BOJ


Friday, 13 September 2019 08:38 WIB

DOLLARCurrency Yen Euro


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The yen was pinned near a six-week low versus the dollar as signs the United States and China were narrowing their differences over trade ahead of key talks decreased demand for safe haven assets.

The euro held steady versus the dollar in Asia after swinging wildly on Thursday following the European Central Bank’s surprise decision to resume government debt purchases from November to support a flagging economy.

In the very short-term, guarded optimism about a resolution to the U.S.-China trade war should continue to push Treasury yields higher and weigh on safe-haven currencies.

The dollar was a tad higher at 108.170 yen (0.8107 pounds), hovering near a six-week high versus the Japanese currency.

The greenback was up 1.2% versus the yen this week, on course for its best weekly performance since November 2018.

The dollar has also drawn support from a spike in U.S. Treasury yields, with the benchmark 10-year yield at a five-week high.

Source : Reuters


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