The yen slipped and the Australian dollar rose on Wednesday as concerns over the...
TOKYO - The yen slipped and the Australian dollar rose on Wednesday as concerns over the U.S.-China tariff war receded further following a Financial Times report that the two sides have resolved most of the issues standing in the way of a trade deal.
“That said, the overall response by currencies has been calm so far, as few expected U.S.-China trade negotiations to actually end in acrimony. We now need to see whether any agreement on trade issues can lead to an amendment in recently subdued economic views.” The Australian dollar is sensitive to shifts in risk sentiment and also reacts to expectations toward the economic fortunes of China, the country’s main trading partner.
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