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Yen rises, yuan falls as U.S.-China trade deal this year looks unlikely


Thursday, 21 November 2019 07:52 WIB

DOLLARCurrency Yen


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The yen rose against the dollar on Thursday after sources close to the White House told Reuters that a U.S.-China trade deal is unlikely this year, which spurred demand for safe-haven assets.

The yuan eased toward a two-week low in offshore trade as failure to reach a deal to roll back U.S. tariffs would cause a further slowdown in China's economy and complicate efforts to keep growth on track.

Some traders are also wary of risk after U.S. lawmakers sent two bills intended to support protesters in Hong Kong to the White House for U.S. President Donald Trump to sign or veto.

The yen rose 0.14% to 108.49 per dollar on Thursday.

The dollar weakened slightly to $1.1077 versus the euro but held steady at $1.2923 against the British pound.

Source : Reuters


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