Dollar down against yen, Swiss franc as trade talks go to the wire [Reuters]
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Source: Reuters
Dollar down against yen, Swiss franc as trade talks go to the wire - Reuters 3 Min Read NEW YORK (Reuters) - The Japanese yen surged to a three-month high against the dollar on Thursday, with the Swiss franc at a three-week high as investors sought out the safe-haven currencies, fearing the U.S.-China trade conflict would escalate. Two days of negotiations began in Washington on Thursday, and traders are waiting to see whether Chinese and U.S. officials can salvage a deal to prevent more U.S. tariff increases. “The dominating headlines this week really have been about trade,” said Minh Trang, senior foreign exchange trader at Silicon Valley Bank, and “traders are moving towards safe-haven currencies and they’re parking it there.” Currency moves this week in response to the latest trade developments have been fairly muted, but Thursday’s jump in the yen and the Swiss franc - which tend to attract demand in times of strife - suggested investor nerves have begun to fray. The yen was 0.35
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