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Yen Gains despite Trade War Reprieve, Euro Steady
Wednesday, 14 August 2019 15:17 WIB | CURRENCIES |DOLLARCurrency Yen Euro

The safe haven yen was higher on Wednesday despite a decision by U.S. President Donald Trump to postpone additional tariffs on some Chinese imports, as investors remained skeptical over prospects for a swift resolution to the trade spat.

The temporary reprieve in the trade war supported risk-off trades on Tuesday, but analysts warn that the optimism is already fading over a resolution to the trade war between the world™s two largest economies, which has threatened global economic growth.

The dollar was down 0.28% to 106.42 yen by 04:00 AM ET (08:00 GMT) .

The Australian dollar also fell 0.6% to 72.15 yen while the New Zealand dollar fell 0.3% to 68.71 yen. Against the offshore yuan , the dollar rose 0.2%.

The U.S. dollar index, measuring the greenback against a basket of six currencies was little changed at 97.58 after jumping 0.4% on Tuesday. The euro was a touch higher against the dollar at 1.1182.

Source : Investing.com

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