The dollar hovered near a six-week low versus the yen early on Thursday, weighed...
TOKYO - The dollar hovered near a six-week low versus the yen early on Thursday, weighed down against its safe-haven Japanese peer as risk aversion gripped broader markets amid concerns that the U.S.-China trade conflict could escalate.
The U.S. currency stood at 109.905 yen after going as low as 109.70 overnight, its weakest since March 25. Washington has accused Beijing of backtracking on commitments made during trade negotiations and U.S. President Donald Trump has threatened to hike existing tariffs on Chinese goods on Friday and impose fresh levies soon if there is no deal.
“While the possibility of the upcoming U.S.-China trade talks falling through is not yet a main scenario, the currency market is gradually beginning to price in such a likelihood.”
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