USD/JPY at 98.50 as Syria worries ease

The yen eased against the dollar on Monday, while commodity currencies such as the Australian dollar edged higher in the wake of upbeat Chinese data and worries about an imminent military strike against Syria diminished.

The dollar rose 0.3 percent to 98.35 yen, having risen as high as 98.49 in thin early trade, pulling well away from last week’s trough of 96.81. The euro was a touch higher at 130.00 yen, after peaking at 130.20.

The yen had risen recently on heightened geopolitical risks and as investors dumped emerging market currencies as they positioned for the U.S. Federal Reserve to begin scaling back stimulus.


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