The week in FOREX was a mixed scenario. Tension eases a little bit between the US and China over trade disputes. However, the tone is still high and rough. USD regains its position against Yen for the first time since August 2019. Both Brits and EU are still negotiating harshly about Brexit. Despite the absence of a lot of positive vibes, the trading market seems stable and that is the best thing.
The USD was staying weak against the safe-haven currency Yen for the last few months. The rate was neither high nor comfortable for the investors. However, due the worldwide financial crisis and confusion among the investors, the green currency strengthens to 108.63 against Yen. It is the highest since 1 August 2019.
The price hike may be paired with Trump’s recent declaration on signing some agreements. The agreements include currency, agriculture, and intellectual properties. No wonder, the currency agreements sparked the price hike.
Although, the silver light is not visible the Phase 1 agreement between US and China would stop Fed to cut down rates to another quarter-point. Government officials from both sides considering it the biggest step in last 15-months.