29.05.2019 10:54 AM
The Japanese yen has every chance to continue climbing. The currency strengthened to a two-week high against the dollar amid fears of a further escalation of the trade conflict between the United States and China. Another "surge" sent investors to a safe haven. The reason for this was unexpectedly aggressive rhetoric in the pages of the People's Daily newspaper, which is the official mouthpiece of the ruling Communist Party of China. As a result, the yen rose to 109.15 yen against the dollar, which is the highest level since May 15 this year. However, this is the only sparring where the dollar loses, as it steadily grows against other currencies.
Now, investors are considering the dollar as an ideal instrument in the transition period, when global growth is weakening amid trade disputes and political uncertainty. The American currency received an additional impetus after the publication of a report by the US Treasury Department, which states that the agency considered the monetary policy of more than 21 major US trading partners and found that nine of them require close attention due to currency fraud, namely China, Germany, Ireland, Italy, Japan, South Korea, Malaysia, Singapore and Vietnam. According to the United States, these countries deliberately holding back the growth of the value of national currencies.
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