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Dollar peaks at six weeks against yen due to easing trade tensions

Dollar peaks at six weeks against yen due to easing trade tensions

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Erik Holm - Head of media

The dollar rose to a six-week high against the yen on Thursday after Washington and Beijing took steps to meet each other in trade, triggering an increased risk appetite for investors. China has exempted 16 categories of US products from additional duties, including whey and fishmeal used in animal feeds, some cancer drugs and lubricants, the Chinese Ministry of Finance said on Wednesday.

US President Donald Trump tweeted that he would postpone the increase in tariffs on Chinese imports planned for October by two weeks. The yen dropped 0.47% to 74.35 against the Australian dollar and 0.21% to 108.04 against the US dollar at 6:34 London time, previously reaching 108.16, the lowest level since August 1.

"Australian" reached a six-week high, while the Chinese yuan rose 0.4% to a three-week high of 7.0855 per dollar. The euro stabilized at $ 1,1014 in anticipation of the outcome of the ECB meeting, before dropping to a weekly low of $ 1.0983. The pound fell after a Scottish court on Wednesday declared the illegal suspension of parliament. The pound was trading without sharp fluctuations at $ 1.2328 after falling 0.4% to $ 1.2313 the day before.