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Yen edges higher as markets sceptical about Trump's trade concession


Wednesday, 14 August 2019 08:12 WIB

Yenmata uang yenYen Jepang


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The yen edged higher on Wednesday as currency investors took a sceptical view of U.S. President Donald Trump's decision to delay additional tariffs on some Chinese goods.

The temporary reprieve in the trade war supported risk-off trades on Tuesday, but analysts warn that the optimism is already fading as there is no quick solution to the trade row, which has threatened global economic growth.

Increasingly violent clashes between protesters and police in Hong Kong, worries about Britain's exit from the European Union, and Middle East tensions mean risk aversion could quickly flare up again and roil major currencies.

The dollar fell 0.27% to 106.47 yen.The Australian dollar also fell 0.3% to 72.33 yen.

U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on U.S. holiday sales.

Source : Reuters


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