Safe Haven Yen drives lower after easing trading tension by Investing.com

Investing.com – The safe harbor drifted lower against the other major currencies on Monday as risk appetite improved after two days of US-China trade talks in Washington, which were described as productive.

The dollar pushed higher against climbing 0.1% to 107.72 at 2:58 AM ET (6: 58GMT), while also gaining ground against the Japanese currency, rising 0.1% to 118.66.

Trading volumes remained thin with markets in Japan closed for a holiday.

A US-China trade breakthrough had seemed unlikely after President Donald Trump on Friday told reporters he was "not looking for" a partial deal, and Chinese officials interrupted unexpected well-being visits by American farmers.

weekend, the US Commerce Representative's Office issued a brief statement that characterized the two days of talks with China as "productive." It added that high-level talks in Washington would take place in October, as previously planned.

In a brief statement, the Ministry of Commerce of China described the talks as "constructive", saying that they had also had a good discussion on "detailed arrangements" for the talks in October.

In addition, the United States removed customs duties from more than 400 Chinese products in response to requests from US companies.

Despite the improved tone, the markets still remain convinced of the possibility of agreement soon.

Against a basket of currencies it was mostly flat around 98.1[ads1]8 and it was little changed against 1.1008.

It was down 0.14% to 1.2457, after falling on Friday from a two-month high on Friday as hopes of a Brexit deal fetched. On Monday, British Prime Minister Boris Johnson also warned against the likelihood of a breakthrough.

– Reuters contributed to this report