© Reuters. The yen is advancing against the dollar
Investing.com – The dollar slipped against the yen in Asia on Wednesday morning due to the intensification of trade disputes between the United States and China, which could adversely affect the global economy. In addition, the Australian has made the best of the morning session thanks to the data on retail sales upward.
The dollar index, which tracks the greenback against a basket of six major currencies stood at 89,76 at 23: 15 (03h15 GMT), down 0.10%. It went from a high daily 89,92 to 89,80.
The tensions continued after the United States has proposed to impose customs duties of 25% on nearly $ 50 billion of products made in China – about 1,300 industrial products, technology, transport and medical in particular.
The decisive factors for the dollar this week will be data on the payroll of the United States and the comments of the chairman of the federal Reserve, and Jerome Powell.
In China, the people’s Bank of China set the fixed rate of the yuan against the dollar to 6,2926 against 6,2833 the previous day. The pair USD / CNY rose 0.06 per cent to settle at 6,2931.
In response, the Chinese embassy in Washington said that “the chinese party shall have recourse to the dispute settlement mechanism of the WTO, and will take equivalent measures against u.s. products in accordance with chinese law”.
The pair USD / JPY fell 0.10% to 106,50. The pair saw the bulls as a whole, climbing under the bar 106 since Tuesday morning. In times of economic uncertainty, the yen attracts the application. And on the other hand, the yen weakens by improving risk appetite as investors turn to riskier assets.
The pair AUD / USD rose 0.29% to trade at 0,7707. The Aussie was boosted on Wednesday morning by the data, bullish for the month of February, which were better than expected at 0.6%, beating the 0.3% estimated.