Trade Deal Hold Caused Yen To Gain Against Dollar – 20 November, 2019

Sources stating that a U.S.- China trade deal is unlikely before the end of they year caused the yen to rise against the dollar with investors unclear about the future of the safe haven currencies and keeping them on the edge. The yen rose to 108.46 per dollar, 0.15% higher. Against the euro, the dollar was steady at $1.1077 and was last trading at $1.2931 against the pound. The onshore yuan fell to a three week low, with worries about the future of Chinas economy being the main factor in its drop. The onshore yuan fell to 7.0400 against the dollar. Tariffs scheduled to take effect on Dec. 15 on $156 billion Chinese goods have caused a lot of uncertainty in the global economy and has furthered the risk of a recession in some economies.