The dollar held firm on Monday after data showed surprise strength in the U.S. j...
TOKYO - The dollar held firm on Monday after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war.
Those figures suggested the Trump administration’s 17-month trade war with China, which has plunged manufacturing into recession, has not yet spilled over to the broader U.S. economy. “Markets are sensing that both sides want to avoid a collapse of their negotiation, judging from various news headlines,” said Kazushige Kaida, chief of forex at State Street. “So the main scenario is for the dollar/yen to test mid-109 yen levels.”
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