Yen falls as global tensions ease and sterling continues to climb
Yen falls as global tensions ease and sterling continues to climb
. The Japanese yen weakened on Thursday as signs of easing in global tensions, including the US-China trade dispute, boosted investor confidence and reduced demand for currencies seen as safe havens.
The pound climbed to its highest level in more than a month, buoyed by hopes that a Brexit exit from the EU would be avoided.
One of the highlights on Thursday was the agreement by China and the United States to hold a high-level round of talks in early October in Washington. That has raised hopes that the world's two largest economies will move towards an agreement to settle their trade disputes.
The US dollar rose late in the US trading 0.53 percent to 106.975 yen after hitting 107.235 yen, the highest level since late July.
Against the euro, the yen fell 0.5 percent to 118.15 after falling to 118.60, its lowest level in three weeks.
The dollar fell 0.05 percent against a basket of major currencies as demand for safe havens declined, but its losses were curbed by encouraging news about the US labor market and service sector.
Sterling continued to climb after British lawmakers on Wednesday approved legislation to extend a third EU exit deadline and rejected a call by Prime Minister Boris Johnson for early elections.
Sterling was trading late in the session, up 0.60 percent against the greenback at $ 1.2327, continuing to move away from Tuesday's three-year low.
Against the euro, sterling rose 0.57 percent to 89.52 pence after hitting a six-week high of 89.49 pence.
Among other major currencies, the Swedish krona jumped after the central bank said it still expected monetary tightening by the end of the year, surprising markets and triggering significant gains for the Swedish currency after long suffering.
The krona hit a two-week high against the euro at 10.657 and rose 0.44 percent to 9.693 against the dollar
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