China's offshore yuan hit a fresh 2019 low early in Asia on Tuesday and the...
TOKYO - China’s offshore yuan hit a fresh 2019 low early in Asia on Tuesday and the safe-haven yen remained supported as a fresh escalation in Sino-U.S. trade tensions hit sentiment, with each country raising tariffs on the other’s goods.
Earlier, China said it would raise tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas, a move that followed Washington’s decision last week to hike its own levies on $200 billion in Chinese imports. “Volatility in the market has risen quite a lot. I think it will take time before it will settle,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.
The dollar index against a basket of six rivals was slightly lower at 97.281, having ended the previous session little changed.
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