The U. S. dollar advances to a fresh six-month high against the Japanese yen on Thursday, following news that trade talks between the U. S. and China are said to resume as the world’s largest economies are throwing their weight around.
The U. S. dollar advanced to a fresh six-month high against the Japanese yen on Thursday, following the latest development in a contentious trade dispute between the U. S. and China.
Late Wednesday, Bloomberg reported that U. S. and Chinese officials considered restarting the trade conversations, which could culminate in a bilateral agreement. So far, the trade talks have been marked by retaliatory tariffs, talk of national security and tough rhetoric.
“The move also comes on the back of speculative trades,” wrote Viash Sreemuntoo, corporate trader at XE.com. “It seems that the yen is slowly losing the supposedly safe-haven currency status. Economic data of late has not helped the yen and interest-rate differentials are driving the currency pair.”
The yen is a currency traders tend to flock to in times of market volatility, thanks to its ample liquidity.
