Facebook Pixel
The yen is growing due to the weak data from China and the postponement of US duties

The yen is growing due to the weak data from China and the postponement of US duties

Avatar
Jim Anderson - Public Relations

The Japanese yen rose on Wednesday, as the data of the Chinese economy, which did not meet expectations, strengthened the view that the trade war between the United States and China would not soon be resolved, despite the postponement of the introduction of additional duties by US President Donald Trump.

The increasingly fierce clashes between protesters and police in Hong Kong, fears of Britain leaving the European Union and tensions in the Middle East show that risk aversion and undermining major currencies could again erupt among investors.

The dollar index fell against a basket of major currencies to 97.804 points. The US dollar fell against the yen by 0.35% to 106.37 yen, while the Australian dollar fell by 0.45% to 72.21 yen.

On Tuesday, Trump announced a 10% postponement of new duties on some Chinese products hoping to mitigate their impact on sales before the Christmas holidays.

The Euro remained stable at $1.1171 at 7:00 London time, but fell by 0.33% against the yen. The pound also remained unchanged at $1.2056.