Dollar slumps to 8-week low vs yen as trade war risk recedes
TOKYO - The U.S. dollar slumped to an eight-week trough to the yen and lingered near a one-month low versus sterling on Thursday, as investor nerves about an inflation-stoking global trade war abated.
Sterling was firm even with the Bank of England widely expected to cut rates by a quarter point later in the day. Sterling was steady at $1.2509 , after rising as high as $1.2550 in the previous session for the first time since January 7.The dollar index - which measures the U.S. currency against the euro, sterling, yen and three other major peers - stood at 107.57, not far from its overnight low of 107.29.
"It appears that the market has started to put the tariff threats against Mexico and Canada in the rear view mirror and is treating the China tariffs as business as usual," said James Kniveton, a senior corporate FX dealer at Convera.
Chinese Yen Trade War Forex Rates
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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