Dollar firms vs. yen but gains tempered by Syria concerns

The dollar edged up against the yen on Thursday, but its gains were tepid as concerns over possible Western military action against Syria lent support to the safe-haven Japanese currency.

The geopolitical tensions shifted some focus away from the U.S.-China trade standoff, with the dollar inching up 0.1 percent to 106.91 yen after losing 0.4 percent on Wednesday. The yen often draws demand in times of market turmoil and political tensions.

The dollar had risen to 107.400 yen on Tuesday after comments from Chinese President Xi Jinping calmed fears over a U.S.-China trade war, which had gripped global financial markets over the past few weeks.

The dollar has since lost momentum against the yen, however, as focus has shifted to the possibility of wider military conflict in the Middle East.

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