Trade Deal Optimism Helps Boost Yuan – 15 January, 2020
Hopes that a trade war resolution stays in motion after the signing of phase 1 by the U.S. and China, the worlds two biggest economies, helped Asian currencies inch up. The Chinese yuan rose 0.1% to 6.8842 per dollar, while the Japanese yen last stood at 109.92 per dollar. The New Zealand dollar rose 0.2% to $0.6635, and the Australian dollar was firm at $0.6908. The news of the progress and talks of phase 2 caused the dollar to take a small dip against the euro and pound, with the dollar index just above a one week low at 97.195. The Swiss franc rose to a 15 month high of 0.9680 per dollar.