Yen Gains Against Dollar, Trade Tensions Leave Investors Uncertain – 7 May, 2019

Investors have turned their attention to the safe haven yen during uncertainty between the U.S. and China over their trade agreement, helping the Japanese currency, one that tends to benefit from economic tensions, gain near recent highs against its peers. Against the yen, the dollar dipped 0.1 percent to 110.13 yen, finishing off its fourth consecutive day of losses against the yen and hovering just above the six week slump of 110.19 yen it touched earlier in the day.  Against a basket of six major rivals, the dollar index erased the 0.1 percent gain from the earlier session, dipping just a bit to 97.560. President Trump tweeted on Sunday that tariffs on Chinese imports would raised from 10 percent to 25 percent on $200 billion worth of Chinese goods. These ongoing trade talks have contributed greatly to the 1.4percent the greenback has given up against the yen in recent months.