By Chibuike Oguh and Samuel Indyk
NEW YORK/LONDON, Aug 6 (Reuters) - The U.S. dollar rose against the **** anese yen on Thursday, helped by safe-haven positioning from investors awaiting details on a proposed deal to end the Iran conflict and ahead of the monthly U.S. jobs report.
The dollar has been clawing back some recent intervention-driven losses that had pushed it to a 13-week low against the yen following joint action by **** anese and U.S. Treasury authorities to prop up the currency.
The dollar was last up 0.41% against the yen at 158.41, on track for its third straight session of gains after weakening to as low as 155.20 on Monday, its lowest level since early May.
"When you strengthen the yen, you by definition weaken the dollar and that's part of what happened in the first part of the week since Friday," said John Velis, FX and macro strategist at BNY.
#since #indyk
NEW YORK/LONDON, Aug 6 (Reuters) - The U.S. dollar rose against the **** anese yen on Thursday, helped by safe-haven positioning from investors awaiting details on a proposed deal to end the Iran conflict and ahead of the monthly U.S. jobs report.
The dollar has been clawing back some recent intervention-driven losses that had pushed it to a 13-week low against the yen following joint action by **** anese and U.S. Treasury authorities to prop up the currency.
The dollar was last up 0.41% against the yen at 158.41, on track for its third straight session of gains after weakening to as low as 155.20 on Monday, its lowest level since early May.
"When you strengthen the yen, you by definition weaken the dollar and that's part of what happened in the first part of the week since Friday," said John Velis, FX and macro strategist at BNY.
#since #indyk
3 months ago
