Yen Drops Amid Optimism Over U.S.-China Trade Talks
Monday, 11 February 2019 13:22 WIB | CURRENCIES | Yen

The yen dropped against all of its Group-of-10 peers as optimism over U.S.-China trade talks this week boosted risk sentiment.

USD/JPY advanced 0.2% to 109.98, with steady demand from macro and leveraged accounts, a trader said. Chinese shares rallied on the first day of trading after the Lunar New Year holidays.

U.S. President Donald Trump's advisers discussed holding a summit with Chinese leader Xi Jinping next month, Axios reported. China said Vice Premier Liu He will join U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in trade talks in Beijing on Feb. 14-15.

The Bloomberg Dollar Spot Index advanced 0.1%, on track for an eighth day of gains. There's no trading in cash Treasuries in Asia as Japan's financial markets are shut on Monday for a holiday.

USD/CHF gained as much as 0.9% to 1.0096 in early Asian trading before erasing the advance. The Swiss franc was sold against the dollar and yen as dealers exploited thin holiday liquidity to execute a stop-loss run, traders said.

Source: Bloomberg

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