The dollar scaled a three-week high versus the yen on Friday, lifted by expectat...
TOKYO - The dollar scaled a three-week high versus the yen on Friday, lifted by expectations that a protracted trade dispute between the United States and China would be resolved soon.
The trade war between the world’s two biggest economies has been a major distraction for financial markets over the past year, with riskier assets in particular taking a hit on worries about the broadening business and growth impact of the conflict. “In particular, the focus is how strong the earnings component of the jobs report turns out to be. A strong wages outcome would underline robust private consumption and hasten the rebound in Treasury yields and in turn allow dollar/yen to test fresh highs,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
“Hopes for a trade resolution have further boosted stock prices, but their gains now look too stretched,” said Makoto Noji, chief forex and foreign bond strategist at SMBC Nikko Securities.
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