The dollar hovered near a six-month high versus the Japanese yen while the Austr...
SYDNEY - The dollar hovered near a six-month high versus the Japanese yen while the Australian dollar climbed to its strongest since July on Friday, buoyed by easing Sino-U.S. trade tensions.
The optimism around prospects for a trade deal reduced demand for safe-haven currencies such as the yen, but with global currency markets in a holiday mood after Christmas Day on Wednesday, overall trading activity was mostly subdued. “Although the overnight gains in the dollar were partly erased by dipping Treasury yields after the seven-year note auction, U.S.-China trade optimism has put a solid floor under the dollar,” said Toshinobu Chiba, chief portfolio manager for fixed income at Nissay Asset Management.
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