forex Yen backpedals on hopes of easing U.S.-China trade tensions

[Anzo Lim 0]

The dollar held firm against the yen on Friday, as comments from Beijing sparked renewed hopes that China and the United States could get full-fledged negotiations back on track to resolve their protracted trade dispute.

The U.S. currency was also supported by investors' month-end rebalancing needs, which has helped lift the dollar index to its highest level in a month.

Against the yen, the greenback traded at 106.53 yen , flat from late U.S. levels and up 1.1% on the week.

 

Source: Reuters 

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