The US dollar has pushed off the multi-month bottom and restored grounds vs Japanese yen on Monday. The greenback recovery is explained by softer tensions between the USA and China driven by their steps to settle the problems.
This morning the US dollar-to-yen exchange rate reached some 105.04. The rate hit a record low of 104.62 overnight.
According to the WSJ report, the representatives of China and USA remained in talks striving to expand the US access to Chinese market. At the same time, just last week the countries threatened each other with trade tariffs.
The available data showed that demand for safe havens started slackening, leading to a better state of US stock futures. Earlier, investors switched to risk havens seeing a potential trade war between the USA and China, which entailed massive dollar selloffs.
The US Dollar index decreased to 88.87.
Meanwhile, the greenback weakened against most other currencies. The euro moved up to 1.2395 against the US dollar. The sterling was seen at some 1.4196. The New Zealand counterpart moved up to 0.7288. In the USD-CAD pair, the American currency dipped to 1.2854. The Australian currency gained some 0.50% coming to 0.7737.