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Dollar edges up on rising US-China tension; yuan, other Asian FX fall
Friday, 22 May 2020 19:56 WIB | CURRENCIES |DOLLAR Indeks Dolar Yen

The dollar gained against major peers on Friday as worries about rising diplomatic tensions between the United States and China supported safe-haven demand for the greenback.

Sino-U.S. relations have soured over a broad range of issues, including China™s treatment of the former British colony of Hong Kong and its response to the coronavirus pandemic, which is causing risk aversion to spread.

The fresh geopolitical strains also boosted the safe-haven yen but sent the yuan to a 1-1/2 month low and rattled both the Australian and New Zealand dollars.

The dollar rose 0.24% to $1.0925 per euro on Friday, following a 0.3% increase in the previous session.

The dollar bought 0.9715 Swiss franc after posting its biggest gain in more than two weeks on Thursday.

Sterling held steady at $1.2216 before data later on Friday expected to show a plunge in British retail sales.

Elsewhere, the yen edged up to 107.46 per against the greenback. Japan™s currency also rose 0.6% against the Aussie and gained 0.4% against the kiwi due to safe-haven inflows.

Source: Reuters

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