(CNBC) The dollar drifted lower Wednesday, with the market in consolidation mode, as investors sought more clarity about ongoing U.S.-China trade negotiations.
The yen, a safe haven, was higher on the day against the dollar as some uncertainty crept back into the market.
Still, as the United States and China work to narrow their differences enough to sign a “phase one” trade deal as early as this month, hopes of a breakthrough have boosted sentiment across world markets.
“What you saw over the last two days is a bit of confusion on the China phase one deal…and that started affecting risk appetite,” said Juan Perez, senior currency trader, at Monex Inc in Washington.
