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Dollar erases losses vs yen, Swiss franc after Russia's Lavrov comments on North Korea
August 11, 2017 / 1:41 PM / 4 months ago

Dollar erases losses vs yen, Swiss franc after Russia's Lavrov comments on North Korea

NEW YORK, Aug 11 (Reuters) - The U.S. dollar inched up against the Japanese yen and the Swiss Franc on Friday, erasing earlier losses, after Russian Foreign Minster Sergei Lavrov said there was a Russian-Chinese plan to defuse tensions between the United States and North Korea.

Speaking live on state television at a forum for Russian students, Lavrov encouraged Pyongyang and Washington to sign up to a joint Russian-Chinese plan, under which North Korea would freeze its missile tests and the United States and South Korea would impose a moratorium on large-scale military exercises.

The dollar was up 0.05 percent to 109.25 yen, after earlier falling to a sixteen-week low following data showing U.S. consumer prices rose less than expected in July.

Against the Swiss Franc, the dollar erased earlier losses to traded little changed on the day.

The Swiss franc and the Japanese yen are often sought in times of geopolitical tension and have logged big gains against the dollar this week after U.S. President Donald Trump warned North Korea that it would face “fire and fury” if it threatened the United States. (Reporting by Saqib Iqbal Ahmed; Editing by Bernadette Baum)

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