Yen holds firm around mid-108.00s

Yen holds firm around mid-108.00s

15 Nov 2019 03:07 PM
 

The Japanese yen was trading steady at 108.60. However, the U.S.-China trade deal hopes helped dollar regain some traction on Friday.

The overnight comments by the White House economic adviser Larry Kudlow, saying that there has been “very good progress,” and that a US-China trade agreement was close, revived hopes of an imminent US-China trade deal and boosted the global risk sentiment.
 
The risk-on mood was further evident from a strong pickup in the U.S. Treasury bond yields, which extended some support to the U.S. Dollar and further collaborated to the USD/JPY pair's positive move for the first day in the past six trading session, back above mid-108.00s.

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