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JPY, CHF rise to USD
Written by: PaxForex analytics dept - Friday, 28 December 2018 0 comments
The Japanese yen and the Swiss franc are rising against the dollar on the last day of the trading week — news of a possible new round of tensions in trade relations between the United States and China is helping to increase the demand for safe assets.
As of this morning, the dollar against the yen fell to 110.63 yen per dollar from 111 yen in previous trading. The dollar against the Swiss franc fell to 0.985 francs per dollar from 0.9882 francs. The euro / dollar rate rose to 1.1453 dollars from 1.1429 dollars per euro at the last close of trading. The index of US currency (the dollar exchange rate to a basket of currencies of 6 countries - the main US trading partners) decreased by 0.12%, to 96.36 points.
The yen and the Swiss franc are usually the safest assets. The demand for them increases in the case of increasing mass risks and volatility.
reported that US President Donald Trump may sign an order in January banning American firms from purchasing Chinese equipment from Huawei and ZTE.
In early December, on the sidelines of the G20 summit in Argentina, the leaders of the United States and China agreed on a "truce" in a trade war. The head of China, Xi Jinping, promised to correct the situation with the trade imbalance and begin to buy substantial amounts of agricultural and other goods from the United States.
American President Donald Trump agreed not to raise from 10% to 25% of the duty on goods from China with the size of imports at $ 200 billion a year, starting from January 1 if the parties manage to reach an agreement on a certain circle of problems within 90 days.