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Dollar dives to four-week lows as trade tensions dominate; yen gains


Wednesday, 16 October 2019 15:24 WIB

YenDolar AS


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The dollar headed toward a four-week low against its rivals on Wednesday on concerns that elevated trade tensions between Washington and Beijing will continue to weigh on the global growth outlook.

Risk appetite was on the back foot with the Japanese currency firming against the greenback while trade-oriented currencies such as the Australian dollar and the Kiwi dollar led losers.

Wednesday, those tensions showed no signs of ebbing with the greenback fragile at 98.16, its lowest level since Sept. 20.

The Chinese currency also weakened.

In the onshore market, the yuan fell around 0.22% to 7.0973 per dollar. In the offshore market, the yuan was off more than 0.2% to 7.1028 versus the dollar.

The yen rose slightly to 108.66 per dollar, pulling away from a two-month low.

Source: Reuters


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