Dollar Hovers Near Six-Week Low vs. Yen as U.S.-China Trade Talks Awaited
Thursday, 9 May 2019 08:24 WIB |
CURRENCIES |DOLLAR Yen
The dollar hovered near a six-week low versus the yen early on Thursday, weighed down against its safe-haven Japanese peer as risk aversion gripped broader markets amid concerns that the U.S.-China trade conflict could escalate.
Markets were nervously awaiting the start of two-day trade talks in Washington later in the global day to see if Chinese negotiators can convince the White House to back down on a threatened tariff hike on Friday.
The U.S. currency stood at 109.905 yen after going as low as 109.70 overnight, its weakest since March 25.
The Australian dollar traded at 76.89 yen, not too far from a four-month low of 76.79 reached on Monday. The Aussie has shed roughly 1.5 percent against the yen this week.
The euro struggled near a four-month trough of 123.09 yen, having fallen 1 percent so far this week.
Against the dollar, the euro was a shade higher at $1.1196, having spent the week stuck in a tight $1.1218-$1.1155 range.
Source : Reuters