Dollar Hits Three-Week High vs Yen on Trade Optimism; U.S. Jobs Report in Focus
Friday, 5 April 2019 08:49 WIB |
The dollar rose to a three-week high versus the yen on Friday, lifted by expectations that a protracted trade dispute between the United States and China would be resolved soon.
The greenback has gained about 0.85 percent against its safe-haven Japanese peer this week, thanks also to factors such as strong U.S. economic data and broad improvement in risk appetite.
The trade war between the world's two biggest economies has been a major distraction for financial markets over the past year, with riskier assets in particular taking a hit on worries about the broadening business and growth impact of the conflict.
U.S. President Donald Trump said on Thursday both countries were getting very close to a trade deal that could be announced within four weeks.
On the economic front, investors will have an opportunity to gauge the health of the world's largest economy when the March U.S. jobs report is released at 12:30 GMT.
The dollar extended overnight gains and rose to 111.80 yen, its highest since March 15.
The euro was steady at $1.1223, capped firmly after data released on Thursday showed German industrial order dropped in February.
The pound was nearly flat at $1.3074 after shedding 0.7 percent overnight.
Source : Reuters