USD/JPY on a roller coaster

Last week was a quite ride for the US dollar

Firstly, the dollar slips against the Japanese yen forced by growing worries about US-China trade tensions. Then the dollar rose vs. yen, to a one-week high after the report that China hopes for opening negotiations about partial trade deal.

Pressure for the dollar came from imposed visa restrictions on Chinese government and Communist Party officials by U.S. State Department according to detention or abuse of Muslim minorities in Chinese province. The dollar firstly slipped to USD/JPY 107.09 (decrease by 0,18 %) but then again rose by 0,43 % to USD/JPY 107.53 after Chinese Vice Premier Liu He informed about next trade talks with US officials. Financial Times also reported that China is offering increase of annual purchase of US agriculture products to find reasonable resolution.

The dollar also strengthened against the Swiss franc by 0.3 % and Dollar index (measuring value of the US dollar against basket of six major currencies) rose by 0.15 %.


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