Investors Await Phase 1 Deal Signing, Yen Stable – 14 January, 2020

The much anticipated signing of phase 1 of a trade deal between the U.S. and China helped the safe haven yen hold firm after the 18 month long disputes are expected to come to a truce. The continuous back and forth between the world’s top two economies have hurt global economic growth over time, with the yuan especially sensitive to change. The offshore yuan dipped 0.2% to 6.8990, while the yen was 0.1% firmer last standing at 109.91. The Swiss franc was stable at 0.9672, holding on to overnight gains, and the euro was steady at $1.1129. Against a basket of major currencies, the dollar index held at 97.372. Both the  Australian and New Zealand dollars dipped 0.1%, with the Aussie at $0.6895 and the kiwi at $0.6606.