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Yen surges after Trump trade salvo wipes out dollar rally


Friday, 2 August 2019 08:31 WIB

Dolar ASmata uang yen


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The Japanese yen hit a more-than-one month high against the dollar and multi-year peaks against antipodean currencies on Friday after U.S. President Donald Trump broke a truce in the Sino-U.S. trade war, bolstering demand for safe-havens.

Against the dollar, the yen was little changed at 107.490, just below 107.105, which was the highest since June 26. On Thursday, the dollar slumped 1.3% against the yen, its biggest daily decline since May 2017. The yen was also poised to rise versus the South Korean won.

The offshore yuan was trading at 6.9670 per dollar after falling to the weakest since November 2018.

The dollar index was steady in Asia at 96.768 after falling 0.15% on Thursday, its biggest daily decline in two weeks.

Against the Australian dollar, the yen rose to 72.87, the highest since October 2011, before trading at 73.10.

Versus the New Zealand dollar, the yen hit 70.26, the highest since June 2016.

Source: Reuters


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