NEWS： Dollar down while yen up as investors hedge
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The dollar fell on Thursday as investors flocked to safe haven assets amid reports that it was difficult for the US and China to finalize the "first stage" trade agreement, and intensified domestic investigations into the impeachment of US President trump.
The yen rose 0.39 percent to 108.4 yen against the dollar, earlier rising to a 10 day high. CHF = also rose, up 0.16%, while the dollar index fell 0.22% to 98.159. Risk aversion also boosted U.S. Treasury prices, pushing the Dow Jones industrial average. DJI and NASDAQ. Ixic, which also weighed on the dollar's decline.
"There was some moderate risk aversion at the start of the day. That sentiment has continued throughout the trading day, pushing down the dollar / yen, "said Shaun Osborne, chief foreign exchange strategist at Scotia capital.
The Financial Times reported Thursday afternoon that it was difficult for China and the United States to reach a "first stage" agreement, and that a conclusion may not be reached before the US tariffs on Chinese goods take effect on December 15. According to a financial times source, the U.S. government believes Beijing's concessions on intellectual property rights and agricultural products procurement are not enough to lift tariffs.
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