Optimistic Outlook On Trade Talks Helps Boost Dollar – 29 August, 2019

Optimism over the possibility of trade talks between the U.S. and China helped the dollar hold firm against the yen after comments from Beijing. The dollar traded at 106.53 yen, up 1.1% for the week. The dollar index last stood at 98.439 after reaching as high as 98.554, its highest since August 1. The dollar, however, is still down 2.1% for the month. China said it is open to negotiations in September when the two leaders are face to face. The euro was steady at $1.1058, having hit a four week low the previous session at $1.1042, while the Australian dollar last stood at $0.67295 after hitting a 10 year low earlier in the month, falling to $0.66775. Sterling is on track for its first weekly loss in three weeks when it last traded at $1.2183.