Japanese yen tacks on

Japanese yen tacks on

On Monday, the safe-haven yen managed to rally, while the Chinese yuan and Australian dollar tumbled right after the latest escalation in the trade conflict between China and America.

The world's two leading economies found themselves at a deadlock over trade talks on Sunday because Washington demanded pledges of concrete changes to Chinese law, while the opponent told it wouldn’t back off.

On Friday, the trade conflict had intensified, with America lifting levies on $200 billion worth of China’s experts. The leading Asian country pledged to respond, although didn’t provide any details.  

Xi Jinping and Donald Trump will probably meet in Japan at a G20 summit at the end of June to negotiate their trade issues.

As a matter of fact, the evergreen buck inched down to 109.650 yen, which is close to a three-month minimum of 109.470 recorded the previous week.

Besides this, the Chinese yuan headed south by nearly 0.3% hitting 6.866 per dollar in offshore trade, which is its lowest outcome for four months.

As for the Australian dollar, it went down by about 0.15% concluding the trading session at $0.6990. By the way, the Australian dollar is quite sensitive to shifts in risk sentiment and also acts as a liquid proxy of trades related to China, which is the country's number one trading partner.

The evergreen buck declined by 0.1% hitting 1.010 Swiss francs that also appears to be a safe haven just like the Japanese yen, having tumbled to 1.009 on Friday, which is its weakest value for nearly a month.

The common currency was nearly intact, showing $1.1234.

The USD index versus six key rivals tumbled by 0.05% reaching 97.283.

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

USD and GBP Traders Await Big Moves
USD and GBP Traders Await Big Moves

The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera