© Reuters. Dollar rebounds against yen as trade war fears ease
Investing.com – The dollar rebounded from 16-month lows against the yen on Monday as fears over a possible trade war between the U.S. and China eased following reports that the two sides were attempting to resolve the issue behind the scenes.
was up 0.33% to 105.08 by 03:50 AM ET (07:50 AM GMT) after falling to 104.62 overnight, the weakest level since November 2016.
The Wall Street Journal reported Monday that to improve U.S. access to Chinese markets, after a week of threats to use trade tariffs.
The report saw the safe haven yen turn lower and rebound as investor sentiment recovered.
Fears over the prospect of a trade war between the world’s two largest economies sparked a wave of risk aversion, sending Wall Street tumbling on Friday.
The euro moved higher against the dollar, with rising 0.26% to 1.2385.
The pound was also higher, with climbing 0.35% to 1.4179.
The , which measures the greenback’s strength against a basket of six major currencies, was down 0.17% to a one-month low of 88.95.
The Australian dollar was higher, with up 0.48% to 0.7736. China is a major destination for Australian exports.
The trade-related New Zealand and Canadian dollars were also stronger, with last at 0.7283 and most recently at 1.2851.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Australian Dollar Steady After RBA Decision - June 4, 2019
- Yuan Watchers Say 7 Is No Longer a Sticking Point for China - June 4, 2019
- Fresh Losses Coming for Australian Dollar, Strategists Say - June 4, 2019