Currency – The dollar is advancing against the yen


© Reuters. The dollar is advancing against the yen

Investing.com – The us dollar appreciated against the yen on Tuesday, as fears of a resurgence of trade between the United States and China have eased after the chinese president Xi Jinping has pledged to lower import tariffs.

Speaking at the Forum of Boao for Asia, Mr Xi stated that China would reduce import duties on vehicles, and encourage imports, and would strengthen the protection of intellectual property.

The comments have helped to calm the minds of investors about the dispute current fee, investors feared a real trade war between the two biggest economies in the world.

The USD / JPY was up 0.27% at 107.07 at 03:18 AM (07:18 AM GMT) after rising up to 107.25 during the night.

The yen, which tends to be sought after by investors in times of uncertainty, political or economic, has increased over the previous two sessions.

Losses in the yen have been mastered in the middle of geopolitical concerns. The markets fear that the relations between the United States and Russia will deteriorate due to increased tensions following an alleged attack with chemical weapons in Syria.

The euro was virtually unchanged with the EUR / USD 1.2322, not far from the high of Monday of 1.2330.

The single currency was strengthened on Monday after the president of the european central Bank, Mario Draghi, has said that stock market declines had not had a significant impact on the financial situation of the euro area.

The euro also rose against the yen, with EUR / JPY up 0.29% to 131,92.

The pound sterling was stable, with the GBP / USD to 1,4148.

The dollar index, which measures the greenback’s strength versus a weighted basket based on the trade of six major currencies, edged up 0.09% to 89,60 after having ended the previous session down 0.28%.

Leave a Reply