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Dollar hits one-week high on yen as U.S.-China trade deal hopes rise


Tuesday, 26 November 2019 08:17 WIB

DOLLARCurrencyAussiePoundsterling


c_740_198_16777215_00_images_assets_CURRENCY3_00Australian-dollar-versus-USD.jpg

The dollar held an upper hand against the yen on Tuesday as optimism on a trade deal between the United States and China dented the allure of the safe-haven unit while the British pound was supported by hopes of an end to a hung parliament.

China's Global Times, a tabloid run by the ruling Communist Party’s official People's Daily, said on Monday on its Twitter feed the two countries are very close to a “phase one” trade deal, discounting “negative” media reports.

The report raised optimism the deal and lifted the dollar against the yen to as high as 109.02 yen a one-week high, by early Asian trade on Tuesday.

The euro softened to $1.1013  near one-week low of $1.10035 touched on Monday.

Sterling traded at $1.2900 supported by hopes that the ruling Conservatives could win a majority in the Dec. 12 election to end a hung parliament.

Against the euro, the British unit stood at 85.365 pence per euro, near six-month high of 85.22 touched Monday last week.

The Australian dollar fetched $0.6776 having touched a one-month low of $0.6768 overnight.

Source : Reuters


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