The dollar declined against a basket of major currencies on Thursday, reversing ...
The dollar was also pressured versus the safe-haven yen by the news that Chile has withdrawn as host of an APEC summit in November where the United States and China had been expected to take major steps toward ending a 15-month-old trade war.
“The fact that Chile has cancelled the mid-November APEC Summit should not be a deal breaker for the U.S. and China to reach a truce,” said Tai Hui, Asia chief market strategist at JPMogan Asset Management in Hong Kong. The Bank of Japan kept its ultra-easy monetary policy in place as expected and changed its forward guidance to more clearly signal the future chance of a rate cut. Currency markets hardly budged after the BOJ decision.
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