The yen rose on Monday, driven by appetite for safe-haven assets as Washington a...
TOKYO - The yen rose on Monday, driven by appetite for safe-haven assets as Washington and Beijing imposed additional tariffs on each other’s exports, adding to the gloom hanging over the global economic outlook.
In offshore trade the Chinese yuan fell toward the lowest since international trading in 2010 in a sign of concern about China’s slowing economy. “There are a lot of risk events this week from U.S. and Chinese economic data, which should help us see who is hurting more from the trade war, but we don’t think a solution is imminent.”Against the antipodean currencies, the yen rose around 0.2% to 71.42 versus the Australian dollar and advanced around 0.2% to 66.88 per New Zealand dollar.The offshore yuan traded at 7.1780 yuan per dollar, down about 0.23% in early Asian trade. The offshore yuan slumped to a record low of 7.1850 on August 26.
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