THE dollar dipped to a near three-week low against the yen in thin year-end volume on Tuesday as investors favored riskier assets, led by renewed optimism about global growth.
The greenback was off .1 percent at 108.77 against the Japanese yen, on track for its third straight session of losses and within a whisker of Monday’s 108.74, the weakest since Dec. 12.
The dollar index, which measures the currency against a basket of rivals, was flat at 96.728 in early Asian trade.
On Friday, the index had suffered its biggest one-day fall since March, which left its gains for the year at under .6 percent, compared with returns of 4.4 percent in 2018. It is now on track for the smallest rise since 2013.
Encouraging news on China and United States (US) trade deal boosted risk sentiment in currency markets overnight.
Peter Navarro, the White House’s trade adviser, on Monday said the US-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the US Trade Representative. (Reuters)
