The yen traded near an eight month high versus the dollar on Friday as renewed c...
TOKYO - The yen traded near an eight month high versus the dollar on Friday as renewed concerns about the U.S.-China trade dispute and signs that central banks are more worried about the global economy boosted safe-haven assets.
The pound traded near a two-year low versus the euro after a media report said Prime Minister Boris Johnson is preparing to hold an election after the Oct. 31 deadline for Britain to leave the European Union. “In terms of positioning, some speculators are a little too long in the yen, but I think many people feel comfortable remaining short dollar and long yen.”
Earlier in the Asia session, the yen popped higher after Bloomberg News said the White House is delaying a decision on allowing U.S. companies to do business with China’s Huawei Technologies. The New Zealand dollar was a tad higher on the day at $0.6486 but on course for its third weekly decline. The kiwi has slumped to its lowest in more than three years this week after the central bank on Wednesday stunned traders by cutting interest rates more than expected and hinting at taking rates into negative territory.
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