Yen near 7-Month Highs as Rising Geopolitical Risks Rattle Investors
Tuesday, 13 August 2019 15:23 WIB | CURRENCIES |DOLLARCurrency Yen
The safe haven yen was trading near seven-month highs against the U.S. dollar on Tuesday as investor sentiment was shaken by a currency crisis in Argentina, unrest in Hong Kong and growing indications that trade tensions are hitting global growth.
The yen was at 105.27 per dollar by 03:23 AM ET (07:23 GMT) after brushing 105.58 overnight, its strongest since Jan. 3.
The Japanese currency, which attracts flight-to-safety flows in times of market stress, has strengthened this month amid increasing signs that the U.S. and China will not reach a quick resolution in their year-long trade war and the prospect of further monetary easing by the U.S. Federal Reserve.
The euro was weaker against the dollar, down 0.2% at 1.1188, handing back the previous day's modest gains.
Source : Investing.com
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