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The safe haven currencies, the yen and the Swiss franc, fell on Wednesday as risk appetite improved after US President trump made more positive comments on us China trade talks.
The yen rose to a two-week high against the dollar earlier, while the Swiss Franc climbed to a four week high as trade uncertainty continued.
However, with trump saying on Wednesday that trade talks with China are "going very well," those concerns eased in New York's currency trading. Trump said on Tuesday that the trade deal may not be reached until after the US presidential election in November 2020, and today's comments sound more positive than he said yesterday.
"Today's news of the US China trade agreement is more optimistic," said Brendan McKenna, foreign exchange strategist at Wells Fargo in New York. "This may be why we saw some safe haven currencies such as the yen, the dollar and the Swiss Franc sold off, while some emerging market currencies performed well. "
U.S. economic data is also the focus of foreign exchange investors' attention, especially after U.S. private employment data was weaker than expected on Wednesday, and weak service industry report intensified concerns about the slowdown in the world's largest economy.
Private job growth fell to a six-month low in November as commodity producers and construction companies cut jobs, according to a private survey.
According to the ADP national employment report, American companies added 67000 jobs last month. Analysts surveyed by Reuters forecast a median increase of 140000 jobs.


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