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Safe Haven Yen Drops As Trading Volumes Lapse By Investing.com

© Reuters.

Investing.com – The yen as a safe haven fell against other major currencies on Monday as risk appetite improved after two days of trade talks between the US and China in Washington that were described as productive.

The dollar was down 0.1% from the index to 107.72 to 2:58 CET (6: 58GMT), while the index also rose against the Japanese currency and edged up 0.1% to 118.66 rose.

Trading volumes remained low as markets in Japan were closed for a holiday.

A breakthrough in trade between the US and China seemed unlikely after President Donald Trump told reporters Friday he was "not seeking a partial agreement" and Chinese officials had unexpectedly canceled visits from US farmers.

Over the weekend, the US Commercial Representative's office made a brief statement declaring the two days of talks with China "productive." It added that high-level talks in Washington would take place as planned in October.

The Chinese Ministry of Commerce described the talks as "constructive" in a brief statement, saying that they also had a good discussion on "detailed" agreements "for talks in October.

In addition, the US removed tariffs of more than 400 Chinese products at the request of US companies.

Despite the improved tone, markets are still not convinced that a deal will soon be possible.

Compared with a basket of currencies, the price remained largely at 98.1

8 unchanged, and it barely changed from the 1.11008 level.

The stock dropped 0.14% to 1.2457 after falling from a two-month high on Friday after the hoped-for fall on Friday, a Brexit Deal sour on Monday also warned British Prime Minister Boris Johnson of a possible breakthrough.

– Reuters has contributed to this report

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