The dollar remained on the defensive against the safe-haven yen on Monday as the Sino-U.S. trade dispute looked set to drag on with no settlement in sight, while holidays in Japan and Singapore made for very thin trading.
Confusion still lingered after U.S. President Donald Trump on Friday said he was not ready to make a deal with China and even called a September round of trade talks into question.
The dollar went the other way against the yen, easing to 105.40 after hitting a seven-month low around 105.25 on Friday. The dollar was hardly alone, with the euro down at 118.16 yen and near its lowest since April 2017.
Likewise, sterling had sunk to depths not visited since 2016 at 126.69 yen having shed over eight yen in little more than two weeks.
Source : Reuters