Safe Haven Currencies Gain Against Dollar – 4 December, 2019

Investors looked to safe havens with news from President Trump that a U.S.- China trade deal might not happen until after the new year, helping the yen and Swiss franc hold onto gains made against the greenback. The pound reached its highest in over six months against the dollar, while the offshore yuan dipped to its weakest since October against the dollar, further pressured by a drawn out trade deal agreement with planned Dec 15 tariffs on Chinese goods expected to carry out. Against the dollar, the yen last stood at 108.54 yen. The Swiss franc was last trading at 0.9875 versus the greenback, its highest in a month. The offshore yuan was at its weakest in almost two months at 7.0691 per dollar, and the pound rose to its highest since may at $1.3014. Against a basket of six major currencies, the dollar index fell to a one month low and was last quoted at 97.737.