The yen soared to a three-month high against the dollar on Thursday Bo Jackson Raiders Jersey , fearing that the US-China trade conflict escalated and investors looked for safe-haven currencies.
Traders are starting a two-day trade talks in Washington on Thursday, and traders are waiting for Chinese and US negotiators to repatriate the agreement to prevent more US tariff increases.
As the recent trade hostility has eased somewhat, the currency trend has eased this week, but the soaring yen on Thursday 鈥?which tends to attract demand during times of conflict 鈥?suggests that investor sentiment is fading.
The main casualties are the Australian dollar Hunter Renfrow Limited Jersey , which represents China's economic prospects, the US dollar and offshore renminbi.
The yuan exchange rate fell by 0.5 percentage points on Thursday to a four-month low of 6.8503, and it was the worst four-day drop in a year.
鈥淭he renminbi is indeed the most important currency in the world,鈥?said Jacques Foster Moreau Limited Jersey , an analyst at Soci茅t茅 G茅n茅rale. "It's not the most traded, but it's the anchor for all market stability. If this anchor is expelled, it will cause the dollar and the yen to go higher."
In the past, the dollar has benefited from increased trade concerns. However Isaiah Johnson Limited Jersey , US President Donald Trump has recently threatened to increase China鈥檚 import tariffs, and the yen has recently appreciated.
It rose 0.3% against the US dollar to 109.6, a three-month high, and has risen more than 1% so far this month.
According to the latest Commodity Futures Trading Commission data Maxx Crosby Limited Jersey , speculators further raised their net long dollar bets, including against the yen.
Trump said on Wednesday that China "broken the agreement negotiated with the United States" and vowed not to stop raising tariffs or impose new tariffs unless Beijing "stops defrauding our workers."
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