The Australian dollar slipped toward a 10-year trough while the yen hovered off ...
TOKYO - The Australian dollar slipped toward a 10-year trough while the yen hovered off its lows on Friday, as renewed hope that China and the United States could get their negotiations back on track began to fade.The U.S. currency was also supported by investors’ month-end rebalancing needs, which has helped lift the dollar index=USD to its highest level in a month.The Australian dollar, often seen as a proxy bet on the Chinese economy, fell 0.31% to $0.
“The talking point is still the U.S. yield curve inversion and whether the U.S. economy heads into a recession...In short, the atmosphere is not so good,” said Bart Wakabayashi, Tokyo branch manager of State Street. “There are so many geopolitical risk factors now. Not to mention U.S.-China trade conflicts, we have Brexit, Hong Kong and the Middle East. So we should expect the yen to jump from time to time,” said Minori Uchida, chief currency analyst at MUFG Bank., near a four-week low of $1.1042 touched on Thursday, hurt by a sluggish euro zone economy and likely monetary easing from the European Central Bank next month.
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