Trade optimism puts floor on dollar/yen, boosts Aussie
Friday, 27 December 2019 11:07 WIB | CURRENCIES |AussieDolar AS Yen

The dollar hovered near a six-month high versus the Japanese yen while the Australian dollar climbed to its strongest since July on Friday, buoyed by easing Sino-U.S. trade tensions.

The optimism around prospects for a trade deal reduced demand for safe-haven currencies such as the yen, but with global currency markets in a holiday mood after Christmas Day on Wednesday, overall trading activity was mostly subdued.

Overnight, the dollar rose to as high as 109.68 yen against the safe-haven Japanese currency, a one-week high and not far from 109.73 yen, its late May peak brushed earlier this month. In Asian trade, the pair was last quoted at 109.47 yen.

The trade-sensitive Aussie dollar firmed to as high as $0.6951 against its U.S. counterpart.

The euro was a shade higher at $1.1117 versus the greenback.

The offshore yuan weakened slightly to 6.9958 yuan per dollar.

Source: Reuters

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