The Japanese Yen was higher against the greenback despite growing hopes that the on-again off-again trade conflict between the United States and China may be on track for the resumption of negotiations. Yesterday, comments from the office of the Chinese Commerce Ministry briefly eased jitters when it was said that the foundation for September's trade talks were already being worked out. The hope is that a deal can be brokered before the deadline on September 1st.
As reported at 10:27 am (JST) in Tokyo, the USD/JPY was trading at 106.440 Yen, down 0.545% and easing away from the earlier high of 106.545 Yen, while the low was recorded at 106.402 Yen. The AUD/USD was trading at $0.6712, down 0.233% while the NZD/USD was lower at $0.6296, down 0.2409%.
Pound Uncertainty Relentless
In the UK, the Pound remains under heavy pressure with volatility growing. The suspension of Parliament by the Prime Minister appears to be a done deal, leaving Parliamentarians little time to stave off a hard crash out of the European Union. Analysts say that Boris Johnson's move may not be able to stave off a no-confidence vote, however, when Parliament does finally resume in mid-October. The GBP/USD was trading at $1.2182, essentially flat on the day, with the EUR/GBP at 0.9069 Pence, down 0.0793%.