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Safe Haven Yen Drifts Lower as Trade Tensions Ease


Monday, 23 September 2019 15:19 WIB

DOLLARCurrency Yenpound


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The safe haven yen drifted lower against the other major currencies on Monday as risk appetite improved after two days of trade talks between the U.S. and China in Washington, which were described as productive.

The dollar pushed higher against the yen, climbing 0.1% to 107.72 by 2:58 AM ET (6:58GMT), while the euro also gained ground against the Japanese currency, rising 0.1% to 118.66.

Trade volumes remained thin with markets in Japan closed for a holiday.

A U.S.-China trade breakthrough had seemed unlikely after President Donald Trump told reporters on Friday he was "not looking" for a partial deal, and Chinese officials unexpectedly cancelled goodwill visits to U.S. farmers.

Against a basket of currencies the dollar was mostly flat around 98.18 and it was little changed against the euro at 1.1008.

The British pound was down 0.14% to 1.2457, after toppling on Friday from a two-month high on Friday as hopes for a Brexit deal soured. On Monday, British Prime Minister Boris Johnson also cautioned against the likelihood of a breakthrough.

Source : Investing.com


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