The safe-haven yen held most of its recent gains on Wednesday as investor cautio...
TOKYO - The safe-haven yen held most of its recent gains on Wednesday as investor caution prevailed due to fresh global trade tensions and as the International Monetary Fund downgraded its global economic outlook.
“Now, there are battles on two fronts for the U.S.,” said Bart Wakabayashi, Tokyo branch manager at State Street Bank. Against a basket of key rival currencies, the dollar was steady at 97.017, after giving up 0.35 percent overnight.On Monday, the U.S. Trade Representative proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies.
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