Economic news

Dollar touches four-month peak vs. yen as U.S.-China trade war concerns ease

The dollar gained versus the yen on Monday, after comments of U.S. Treasury Secretary Steven Mnuchin on U.S.-China trade relations triggered risk sentiment amid expectations for an easing of trade tensions between the world’s two largest economies.

Photo: Reuters

The greenback jumped 0.5 percent to 111.245 yen, scaling a fresh four-month top in Asian trade.

The dollar’s index breached a fresh five-month peak on Monday, climbing to a high of 93.860 at one point.

The euro sank to $1.1744, reaching its trough in five months, and was last traded at $1.1746, losing 0.2 percent.

Sterling slipped 0.35 percent to $1.3857, touching its nadir since late December.

Asian markets rose in early trading on Monday with Hong Kong’s Hang Seng Index soared more than 1 percent. Japan’s Nikkei and South Korea’s Kospi advanced and Australia’s S&P/ASX 200 edged higher.

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