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The yen fell Thursday as global tensions, including the Sino-US trade conflict, showed signs of easing, boosting investor confidence and reducing demand for safe-haven currencies.
The pound rose to its highest level against the dollar in more than a month as Britain was expected to avoid a no-agreement exit.
"Financing currencies have fallen as global tensions ease gradually," said Karl Schamotta, head of global market strategy at Cambridge Global Payments.
The most notable development was the agreement between China and the United States on Thursday to hold high-level talks in Washington in early October. This raises hopes that the world's two largest economies will reach an agreement to resolve their trade differences.
Since this summer, fierce rhetoric and tit-for-tat tariffs between China and the United States have made investors nervous and nervous about the global economic outlook.
"This is very positive because the market has been turbulent over the past few months due to trade wars," Minh Trang, a senior foreign exchange trader at Silicon Valley Bank, said of the October trade negotiations.
In late U.S. trading, the dollar rose 0.53% against the yen JPY = EBS to 106.975 yen, after hitting 107.235 yen, the highest level since the end of July.
The yen fell 0.5% to 118.015 yen against the euro, after falling to 118.6 yen, a three-week low.
The dollar fell 0.04% against a basket of currencies as demand for hedging fell, but encouraging news from the U.S. job market and the service sector limited the dollar's decline.
The national employment report released by ADP Employer Services, a private employment service, shows that private employment increased by 195,000 jobs last month, exceeding the 149,000 estimated by Reuters.


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