Pressure was back on the dollar on Wednesday, as nagging fears the Sino-U.S. tra...
TOKYO - Pressure was back on the dollar on Wednesday, as nagging fears the Sino-U.S. trade war will drag on and severely hurt economic growth led to yet another slide in U.S. bond yields.
The greenback started on a shaky footing this week, but then recovered as safe-haven Treasury yields bounced from multi-year lows after U.S. President Donald Trump softened his tone against China and predicted the two countries would be able to reach a trade deal. “The markets have pulled out of the latest round of chaos,” said Takuya Kanda, general manager at Gaitame.Com Research Institute, referring to the tumult in global markets at the end of last week when Washington and Beijing announced fresh tit-for-tat tariffs in a further escalation of their trade dispute.
The dollar was a shade weaker at 105.680 yen after shedding 0.35 percent overnight, but still up from an eight-month low of 104.460 hit on Monday.
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