Forex - Dollar Gains against Yen in Cautious Trade

© Reuters. Dollar pushes higher against yen but gains checked

Investing.com - The dollar pushed higher against the yen on Monday but gains were held in check amid ongoing worries over U.S. - China trade tensions and following Friday’s weaker-than-expected U.S. jobs report.

was up 0.17% to 107.10 by 03:14 AM ET (07:14 AM GMT), after ending Friday’s session down 0.42%.

The dollar slumped on Friday as fresh fears over the prospect of a trade war between the world’s two largest economies and the disappointing employment data weighed.

The safe haven yen tends to be sought out by investors during times of political or economic uncertainty.

China said Friday that it was prepared to hit back “forcefully” if U.S. President Donald Trump followed through on a threat to impose $100 billion in additional tariffs on imports.

Worries that might result in a full blown trade war have fueled fears over the impact on the global economy and U.S. growth, but investors are hopeful that negotiations will result in a compromise.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged up 0.1% to 89.92.

The dollar showed little reaction following reports of a on a major Syrian air base. Washington denied it had launched any air strikes against the country.

The euro slipped lower, with down 0.11% to 1.2268, holding above the one-month low of 1.2215 seen ahead of Friday’s U.S. jobs data.

The Labor Department reported that the U.S. economy added in March, but wage growth picked up slightly, indicating that the labor market is continuing to tighten.

The data did little to alter the outlook for monetary policy. The Federal Reserve raised interest rates last month and projected two more rate hikes this year.

Sterling was almost unchanged against the dollar, with last at 1.4096.

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex - Dollar Gains against Yen in Cautious Trade : https://ift.tt/2Hlr48m

Let's block ads! (Why?)