Economic news

Yen dips as risk appetite revives

The safe haven yen slumped on Tuesday as optimism that the U.S. and China could begin talks on trade helped ease fears about a global trade war, reviving require for riskier assets.

Photo: Reuters

The greenback gained 0.2 percent to 105.62 yen. The dollar has recovered after touching a 16-month trough of 104.56 yen in the previous session.

The euro inched up 0.1 percent to $1.2454, not far from Monday’s peak of $1.24615, which was the single currency’s highest level since mid-February.

The dollar’s index was firm at 89.042, fluctuating near Monday’s five-week nadir of 88.979.

The won soared 1 percent to 1.070.15 a dollar.

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