Dollar Edges Higher Against Yen After Trade Talks – 7 November, 2019

An agreement to cut back on tariffs between the U.S. and China left investors looking to higher risk assets, though the dollar still managed to hold onto some gains against the yen, but some are still skeptical about the progress being made. In a vote to cut interest rates by the Bank of England, the pound dipped to a near two week low. Against a basket of six major currencies, the dollar index was up 1% this week to 98.136. The greenback managed to gain against the yen, last trading at 109.34 yen, just below a five month high and on track for a 1.1% gain this week. Sterling dipped to its lowest since Oct 24, trading at $1.2815 and on track for a 1% decline this week. Against the Swiss franc, the dollar was slightly higher at 0.9953.