US dollar weaker vs yen, relations of USA and trade partners raise concerns

Posted 26 June, 2018

On Tuesday, the US dollar has weakened further against the Japanese yen during the Asian session, coming closer to 2-week bottom. The decline is related to the fact that increasing concerns regarding the relations between the USA and its trade partners affected demand for the risk.

The market is under pressure from an unclear position of the USA  regarding the international trade.

Steven Mnuchin, the US Finance Minister, stated yesterday that the restrictive investment measures will cover not only China but also all countries that are trying to grab their technologies.

Meanwhile, an official from the White House National Trade Council commented that any limits in the investment field to be proposed by President's Administration will cover China rather than other countries.

With this message, the greenback had somewhat rebounded but then fell again vs the yen, reaching 109.63. For reference, the 2-week bottom recorded this Monday stands at 109.365.

The US Dollar Index slightly improved to 94.10 for now. Earlier, the rate peaked at 95.53 in the second half of last week. Trade conflict between the USA and China affected the yuan which lost grounds staying at 6.5546.

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26 June, 2018 12:05

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