The dollar headed for its highest weekly finish against the safe-haven yen since...
SINGAPORE - The dollar headed for its highest weekly finish against the safe-haven yen since May on Friday, as data showing the U.S. economy on a firm footing prompted investors to scale back rate-cut bets.
“There seems to be pretty good optimism around the trade talks going on between U.S. and China,” said William O’Loughlin, a portfolio manager at Rivkin Securities in Sydney. The dollar’s strength this week has drawn on hopes that the United States and China are indeed in the process of negotiating a ceasefire in their damaging tariff war, and strong U.S. economic data.
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