* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
By Hideyuki Sano
TOKYO, Nov 14 (Reuters) - Doubts that securing a trade
agreement between the United States and China is far from a done
deal helped to lift safe-haven currencies such as the yen and
the Swiss franc on Thursday, while pulling the yuan lower.
U.S.-China trade negotiations have 'hit a snag' over farm
purchases, with Beijing not wanting a deal that looks one-sided
in favour of the United States, the Wall Street Journal reported
on Wednesday, citing people familiar with the matter.
The report came after U.S. President Donald Trump said a
trade deal with China was "close," but offered no details and
warned that he would raise tariffs "substantially" on Chinese
goods if there was no deal. An agreement last month between the two economic powers to
sign a "phase one" pact to end their trade war boosted optimism
in global financial markets, lifting the yuan and other
risk-sensitive currencies.
"If Trump takes a hard line, emboldened by the latest
strength in stock markets, and refuses to make some concessions
to China, there will be risk an agreement cannot be reached at
the last minute," said Makoto Noji, chief currency and foreign
bond strategist at SMBC Nikko Securities.
The yen firmed to 108.80 yen per dollar JPY= , having risen
to as high as 108.66 in previous U.S. trade.
The Japanese currency, often used as a safe-haven asset
because of Japan's status as the world's largest net creditor
nation, has hit a five-month low of 109.49 a week ago.
The yen hardly budged after Japan's GDP data showed the
economy grew an annualised 0.2% in July-September, much below
economists' forecast of 0.8%. The Swiss franc has been firm, having risen almost 0.6% over
the last two days against the euro, to hit its highest level in
more than a month.
The franc traded at 1.0895 per euro EURCHF= , near
Wednesday's peak of 1.0879. Against the dollar, the franc stood
at 0.9898 per dollar CHF= .
The offshore yuan traded at 7.0292 yuan per dollar CNH= ,
retreating since it hit a three-month high of 6.9530 last
Thursday.
China's retail sales and industrial production data due
later in the day (0200 GMT) is a key focus for markets.
The Australian dollar shed a half percentage point to
one-month low of $0.6802 AUD=D4 after weak employment data
showing the first fall in payrolls in three years. The euro stood at $1.10075 EUR= , having touched one-month
low of $1.0995 in U.S. trade.
Sterling was little moved at $1.2857 GBP=D4 , stuck in a
tight range this week, in a limbo ahead of a Dec. 12 election.
A poll carried out for the Daily Telegraph newspaper showed
British Prime Minister Boris Johnson's Conservatives have a
healthy 10-point lead over main opposition Labour.