Trade Optimism Helps Dollar Gain Against Yen – 26 December, 2019

Optimism over easing trade tensions between the U.S. and China helped the dollar reach a two week high against the Japanese yen, though the Christmas holiday limited movement in the market. The dollar rose 0.26% to 109.63 against the safe haven yen. The Australian dollar gained 0.38% against the greenback, and the kiwi was up 0.57%. The offshore yuan was steady at 6.9911 yuan per dollar. Against a basket of six major currencies, the dollar index dropped 0.13% to 97.523. The pound was relatively unchanged at $1.3004 but still below the December 13 high of $1.3514.