Forex - Yen Gains as Huawei Charges Ramp up Trade Concerns - Investing.com UK
© Reuters. Investing.com - The safe haven yen was higher against the U.S. dollar on Tuesday after U.S. authorities hit Chinese technology firm Huawei with criminal charges, ratcheting up trade tensions between the world’s two largest economies. The U.S. Department of Justice charged Huawei, its chief financial officer and two affiliates with bank and wire fraud to violate sanctions against Iran. Investors fear the charges could complicate high-level trade talks set to begin on Wednesday when China's Vice Premier Liu He will meet with U.S. Trade Representative Robert Lighthizer and others. Unless an agreement is reached by March 1, U.S. President Donald Trump has said he will raise tariffs on Chinese imports from 10% to 25%, a move which investors fear will exacerbate the global economic slowdown. "There is a much lesser chance now that we get anything positive out of these trade negotiations," said Nick Twidale, chief operating officer at Rakuten Securities. "...