The dollar rose against the yen amid a weakening fear about trade - Ester Holdings

The dollar rose against the yen amid a weakening fear about trade

SINGAPORE/TOKYO, May 21 (Reuters) – The dollar rose to the yen on Monday after US Treasury Secretary Stephen Mnuchin said Washington and Beijing put the trade war “on a pause.” His comments revived hopes for easing tensions in the trade relations of the two largest economies of the world and supported the appetite for risk.

The dollar by 8.53 (Moscow) rose by 0.5 percent to 111.35 yen, updating a maximum of four months.

Warming in US-China trade relations is likely to support risky assets such as equities, and will favorably affect the dollar’s exchange rate against the yen, said Stephen Innes from Oanda in Singapore.

Mnuchin and chief economic adviser to US President Donald Trump Larry Kudlow said that the agreement, which the US and Chinese delegations concluded on Saturday, provides the basis for addressing the imbalance of trade in the future.

The dollar index to the basket of major currencies increased by 0.2 percent to 93,870. The euro fell by 0.2 percent to $ 1.1749 after a decline to $ 1.1743, a five-month low.

The pound lost 0.3 percent to $ 1.3439, reaching a low since late December.

Investors are waiting for the release of the minutes of the last meeting of the Fed, which will be made public on Wednesday and may shed light on the pace of policy tightening by the regulator.

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