The yen was pinned near a six-week low versus the dollar as signs the United Sta...
TOKYO - The yen was pinned near a six-week low versus the dollar as signs the United States and China were narrowing their differences over trade ahead of key talks decreased demand for safe haven assets.
In the very short-term, guarded optimism about a resolution to the U.S.-China trade war should continue to push Treasury yields higher and weigh on safe-haven currencies. “Once we start to focus on the Fed’s rate cut, perceptions of the market will change. Treasury yields and dollar/yen look to be too high and are likely to start drifting lower.”
The dollar has also drawn support from a spike in U.S. Treasury yields, with the benchmark 10-year yield at a five-week high.The two sides are preparing for new rounds of talks aimed at curbing a trade war, which has dragged on for more than a year, roiling financial markets and threatening to push other economies into recession.
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