Safe-Haven Yen Gains Vs. Dollar – 6 May, 2020

Increased tensions between the U.S. and China and unanswered questions about the European Central Bank’s stimulus caused the safe-haven yen to reach a seven week high against the dollar. The safe haven yen was reached a seven-week high of 105.985 per dollar and last stood at 106.04. After hitting a 3 1/2 year high of 114.43 overnight against the euro, the yen traded at 114.63 per euro. Renewed criticism from the White House over China’s early handling of the virus has resurfaced some tension over last years trade war, with President Trump stating that he will be watching China closely to see if they are obliging to the phase 1 deal the worlds to biggest economies signed in January. The euro last changed hands at $1.0799, while the pound eased to $1.2324, its lowest in almost two weeks.